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Are we there yet? A return to the rational for Australian consumer protection

Citation

Worth, BL, Are we there yet? A return to the rational for Australian consumer protection, Australian Journal of Competition and Consumer Law, 24 pp. 33-52. ISSN 1838-9260 (2016) [Refereed Article]

Copyright Statement

Copyright 2016 Thomson Reuters (Professional) Australia Limited

Official URL: http://sites.thomsonreuters.com.au/journals/catego...

Abstract

The introduction of Australia's unfair contract term legislation, when applied to standard form contracts, has improved the position of the consumer by taking into account the impact of behavioural biases and bounded rationality. As such, this article shows that through a shift in focus to the substantive fairness of the terms in a contract, much has been done to return the consumer to the position of a rational economic agent. Ultimately, however, shortfalls still exist in the legislation in light of the insights of behavioural economists, meaning that improvements are needed to fully embed the benefits of Australia's dedicated consumer protection provisions.

Item Details

Item Type:Refereed Article
Research Division:Law and Legal Studies
Research Group:Law
Research Field:Civil Law and Procedure
Objective Division:Expanding Knowledge
Objective Group:Expanding Knowledge
Objective Field:Expanding Knowledge in Law and Legal Studies
Author:Worth, BL (Mr Brenton Worth)
ID Code:114646
Year Published:2016
Deposited By:Law
Deposited On:2017-02-22
Last Modified:2017-10-18
Downloads:0

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