Over the past ten years, the author of this Issues Note and his many co-authors and colleagues with Delsys Research and other organizations have been conducting research and consulting studies on whether, why, and how behavioral economics, neuroeconomics, and other less conventional economics literatures can be applied to improve the design, administration, enforcement and performance of competition, consumer protection, product safety, environmental, and other policies, laws and regulations of government.
Consumer preferences, purchasing decisions, voice and exit make major contributions to regulatory compliance, performance and outcomes.
Consumer preferences, purchasing decisions, voice and exit make major contributions to regulatory compliance, performance and outcomes. Over the past nine years, an associate of Delsys Research has been a senior consultant and advisor to Industry Canada on consumer policy, laws and regulations. The research related to this work has emphasized how the insights from behavioural, institutional, innovation and other economics literatures, which relax and go beyond the perfectly informed and rational agent model of conventional economics, can increase our understanding of consumer behaviour, preferences, decisions, responsibilities, vulnerabilities, learning, literacy and contributions to regulatory compliance and performance.
The following link provides readers with access to a short article which summarizes the topics addressed in this consumer research program and their implications for competition, innovation, business competitiveness, and regulatory compliance and performance.