The complexities of consumer behavior call for comprehensive and detailed analytical studies. The need for both businesses and academics across the world to understand the behavior of consumers in crisis situations has been clearly illustrated by the Covid pandemic. A New Era of Consumer Behavior - In and Beyond the Pandemic presents research on both theoretical and practical aspects of this topic in three sections: “Digital Shifts in Consumer Behavior”, “Digitalization of Consumer Behavior in the Tourism Sector” and “Consumer Protection and Sustainability”.
As Elizabeth Warren memorably wrote, “It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house. But it is possible to refinance an existing home with a mortgage that has the same one-in-five chance of putting the family out on the street.” More than a century after the government embraced credit to fuel the American economy, consumer financial protections in the increasingly complex financial system still place the onus on individuals to sift through fine print for assurance that they are not vulnerable to predatory lending and other pitfalls of consumer financing and growing debt. In Democracy Declined, Mallory E. SoRelle argues that the failure of federal policy makers to curb risky practices can be explained by the evolution of consumer finance policies aimed at encouraging easy credit in part by foregoing more stringent regulation. Furthermore, SoRelle explains how angry borrowers’ experiences with these policies teach them to focus their attention primarily on banks and lenders instead of demanding that lawmakers address predatory behavior. As a result, advocacy groups have been mostly unsuccessful in mobilizing borrowers in support of stronger consumer financial protections. The absence of safeguards on consumer financing is particularly dangerous because the consequences extend well beyond harm to individuals—they threaten the stability of entire economies. SoRelle identifies pathways to mitigate these potentially disastrous consequences through greater public participation.
Effective regulation of consumer credit in modern society is an ever-changing challenge. As new forms of credit emerge in free societies, regulation often lags behind. This volume explores contemporary problems related to the regulation of consumer credit in market economies with a focus on credit extended to the most vulnerable and poorest members of the community. Written by experts in the field of consumer credit regulation from Europe, North America, Australia, and South Africa, the book examines some of the most important consumer credit issues facing consumers today and proposes innovative ways to protect the consumer interest in those markets.
Where we are now -- What consumers want -- Lessons learned on ebay -- The business case for resolutions -- Bringing consumer advocacy online -- Ethical considerations -- Envisioning a global redress system -- The design: newhandshake.org -- How it could succeed and how it could fail -- Case studies -- What's next -- Conclusion
