Strünck C. & Reisch L. A.Consumer policy

Recommended reading

Christoph Strünck & Lucia A. Reisch

Release date:
December 2017

Politics and economy, Springer reference social sciences, Springer publishing

The notion of ​​consumer sovereignty meets several limits in reality. There are many asymmetries between providers and consumers, for example in terms of information, behavior and power. Consumer policy seeks to reduce these asymmetries. More recent findings of behavioral economics are adjusting important model assumptions of neoclassical economics. There are two consequences for consumer policy. On the one hand, there is a call for more evidence on the impact of consumer policy measures. On the other hand, behavioral economics show that a "gentle" behavioral influence (nudges) can be useful. Political science is interested in the collective interests of consumers. New forms of mediating different interests, design options of social networks and variants of collective redress can strengthen collective consumer interests and therefore also consumer sovereignty.

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