Market powers do promote consumer protections

Research Project

Project/Area Number	26780055
Research Category	Grant-in-Aid for Young Scientists (B)
Allocation Type	Multi-year Fund
Research Field	Civil law
Research Institution	Niigata University
Principal Investigator	MAKI Sachiyo 新潟大学, 人文社会・教育科学系, 講師 (40543517)
Project Period (FY)	2014-04-01 – 2017-03-31
Project Status	Completed (Fiscal Year 2016)
Budget Amount *help	¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000) Fiscal Year 2016: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000) Fiscal Year 2015: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000) Fiscal Year 2014: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Keywords	消費者信用 / CFPB / 金融消費者保護局 / 法と経済学 / 消費者信用市場 / ペイデーローン / 金融サービス法 / 上限金利
Outline of Final Research Achievements	This research discussed characteristics of consumer credit market. To begin with, I considered why the market of consumer credit fails. In the credit marketplace three forces----learning by consumers, information provided by third parties, and information provided by sellers----have only limited power to reduce imperfect information and bounded rationality. Furthermore, my research demonstrated that sellers of credit products can easily exploit the lack of information and cognitive limitations of consumers.