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Restoring Consumer SovereigntyHow Markets Manipulate Us and What the Law Can Do About It$
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Adrian Kuenzler

Print publication date: 2017

Print ISBN-13: 9780190698577

Published to Oxford Scholarship Online: August 2017

DOI: 10.1093/oso/9780190698577.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use.date: 23 May 2022

Making Behavioralism Work

Making Behavioralism Work

Chapter:
(p.91) 3 Making Behavioralism Work
Source:
Restoring Consumer Sovereignty
Author(s):

Adrian Kuenzler

Publisher:
Oxford University Press
DOI:10.1093/oso/9780190698577.003.0004

This chapter turns to the restoration of consumer sovereignty. It revisits the three recurrent principles set out in Chapter 1 and argues that antitrust and intellectual property laws must understand consumers in their full socially embedded complexity to promote progress. Only in this way can analysts respect, rather than suppress, consumer preferences that evince concern for less proprietary forms of production and distribution in a marketplace which is heavily fixated on consumerism and passive consumption. It points to a number of ingenious recent studies from the cognitive psychological research that demonstrate that revealed preferences and external incentives have been offered as bright line rules for directing the consumer’s attention primarily (and exclusively) to conventional manufacturing and distribution techniques, but that such physical and economic processes scarcely exhaust the universe of choices about which consumers express strong interest.

Keywords:   anchoring and adjustment, cognitive psychology, coherent arbitrariness, intrinsic motivation, endogeneity, lock-in

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