Philip R Lane: The role of financial regulation in protecting consumers
By Bank for International Settlements (BIS)
In this analytical and policy-oriented address, Governor Philip R. Lane delineates the Central Bank of Ireland’s multidimensional strategy for consumer protection, grounded in the theoretical framework of behavioral economics. Lane posits that traditional economic models of rational choice often fail to account for real-world consumer behavior, such as present-bias, inertia, and loss aversion.
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