Seduction by Contract

Seduction by Contract

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Seduction by Contract explains how consumer contracts emerge from market forces and consumer psychology. Consumers' predictable mistakes - they are short-sighted, optimistic, and imperfectly rational - compel sellers to compete by hiding the true costs of products in complex, misleading contracts. Only better law can overcome the market's failure.Similarly, ATaamp;T and Apple heavily subsidized the iPhone, sacrificing short-term revenues, and Sprint sold Samsunga#39;s music ... D. Power found that 42 percent of customers receive a free cell phone when subscribing to a wireless service.46 Of ... Verizon led this transition when, in june 2007, it started charging customers a termination fee of$175, less $5 for each ... a customer with no contract would be required to pay an additional $400 beyond the contract price for the same iPhone .

Title:Seduction by Contract
Author:Oren Bar-Gill
Publisher:Oxford University Press - 2012-08-23


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