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Robert Johnson.

 Professor, Fuqua School of Business.

 

Investment products are shaped by behavioral economics. They help tailor better products for customers. Their use, however, is dictated by the culture of the institution. To dictate this by regulation may invite unintended consequences, which should be investigated beforehand. Until then, the law should remain the "lowest common denominator."

2. How do we go about regulating this duty?

 

1. Do banks have a duty to their consumers, and if so, what is the source of this duty?

 

3. In deterring wrongdoing, should more emphasis be put on the role of law or the role of culture?

 

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