Friday, 30 March 2012
Thursday, 29 March 2012
Cheaper roaming through price caps until retail prices will have been driven down by competition (according to the agreement: till 30 June 2017).
Wednesday, 28 March 2012
Friday, 23 March 2012
'Much of competition policy and regulation is based on insights from economic models with rational decision-makers. Yet a substantial body of research shows that many individuals are better characterized as being boundedly rational. In consumption choices as well as contexts that resemble executive decisions, people display such deviations from rationality as time inconsistency, overweighting of small probabilities, and failure to ignore sunk costs. Where one side of a market is not fully rational, the other side tailors its behavior accordingly. For instance, credit card companies may impose attractive baseline repayment terms combined with large penalties for late payments. This will attract borrowers that are time inconsistent and not sophisticated enough to foresee their temptations. That is, business strategies may display non-standard features, which regulators and competition authorities need to understand to be effective.
This year’s ACLE Competition & Regulation Meeting focuses on what we can learn from behavioral economics for the enforcement of competition law and regulation.'
This promises to be an interesting event for anyone with an interest in behavioral economics and law. In particular, issues of consumer credit deserve to be further explored. US literature is much further ahead in comparison to Europe: interesting work on this has been done by Oren Bar-Gill. For a selection of his articles, see ssrn. The ACLE conference could be a good starting point for research and discussion on the EU consumer credit market.
Thursday, 22 March 2012
Tuesday, 20 March 2012
Thursday, 15 March 2012
Unfair terms and unfair commercial practices' relation - CJEU in case C-453/10 Pereničová and Perenič
Wednesday, 14 March 2012
Sunday, 11 March 2012
Tuesday, 6 March 2012
Websites may be a click away from a durable medium - AG's opinion in case C-49/11 (Content Services)
What is important in that evaluation is the question whether the information has been placed under the customer's control and is no longer under the control of the person giving it. (Par. 42) Pursuant to the AG a general web page, such as the page of Content Services, does not satisfy these conditions, since it is not placed under the control of the person who consults it, but remains under the control of the person who publishes it. This means that, e.g., Content Services could alter or delete this information at will. The claim that the user could act to print or store the page before it is changed should be rejected since then the user would be generating the durable medium and not the vendor. (Par. 43) As a final remark, the AG mentions that even if a website could be seen as a 'durable medium', the consumer is still supposed to 'receive' the information which means that placing a link to such a website (either on home page or in an email) still does not satisfy the first element of this test. The AG suggests that placing that information directly in the text of the email seems to be much simpler and more in the spirit of the Directive.
Monday, 5 March 2012
Canada seems a more consumer-friendly place in this respect than the EU... perhaps it is time for a re-think on what counts as 'average' and whether consumers are in fact, as the Unfair Commercial Practices Directive presupposes, rational actors who are capable of looking after their own interests.
Saturday, 3 March 2012
"European Equal Pay Day reminds us of the days and hours that women have been working 'for free' since 1 January. The principle of equal pay for equal work is written in the EU Treaties since 1957. It is high time that it is put in practice everywhere," said EU Justice Commissioner Viviane Reding, the Commission’s Vice-President.
To see more statistics go to the Gender pay gap website.