TY  - JOUR
AU  - Karampatzos, Antonios
AU  - Ilić, Nikola
PY  - 2023
UR  - https://ralf.ius.bg.ac.rs/handle/123456789/1422
AB  - This paper analyses possibilities for amending the withdrawal right under the EU consumer law, aiming to reduce the information asymmetry between contracting parties in distance sales and thus increase the number of concluded contracts and the overall contractual surplus. The main findings are that the rules suggested in law and economics theory (the personalized mandatory rules and the mandated-choice model) may not be optimal tools for amending the withdrawal right because they mostly seem to neglect the allocation of risk between contracting parties. Thus, this paper suggests the new 'risk allocation' rules as a tool for amending the withdrawal right, focusing on its use in distance sales. If amended in line with those rules, the withdrawal right could deal with information asymmetry problems more efficiently, incentivise contracting parties to enter more distance sales contracts, and increase the overall contractual surplus, especially within the realms of e-commerce. The suggested proposal is conceived - at least for the time being - more as a thought experiment; relevant empirical analysis may follow up at a subsequent phase.
PB  - Walter de Gruyter Gmbh, Berlin
T2  - Review of Law & Economics
T1  - Law and Economics of the Withdrawal Right in EU Consumer Law
EP  - 452
IS  - 3
SP  - 435
VL  - 19
DO  - 10.1515/rle-2022-0076
UR  - conv_3204
ER  - 

@article{
author = "Karampatzos, Antonios and Ilić, Nikola",
year = "2023",
abstract = "This paper analyses possibilities for amending the withdrawal right under the EU consumer law, aiming to reduce the information asymmetry between contracting parties in distance sales and thus increase the number of concluded contracts and the overall contractual surplus. The main findings are that the rules suggested in law and economics theory (the personalized mandatory rules and the mandated-choice model) may not be optimal tools for amending the withdrawal right because they mostly seem to neglect the allocation of risk between contracting parties. Thus, this paper suggests the new 'risk allocation' rules as a tool for amending the withdrawal right, focusing on its use in distance sales. If amended in line with those rules, the withdrawal right could deal with information asymmetry problems more efficiently, incentivise contracting parties to enter more distance sales contracts, and increase the overall contractual surplus, especially within the realms of e-commerce. The suggested proposal is conceived - at least for the time being - more as a thought experiment; relevant empirical analysis may follow up at a subsequent phase.",
publisher = "Walter de Gruyter Gmbh, Berlin",
journal = "Review of Law & Economics",
title = "Law and Economics of the Withdrawal Right in EU Consumer Law",
pages = "452-435",
number = "3",
volume = "19",
doi = "10.1515/rle-2022-0076",
url = "conv_3204"
}

Karampatzos, A.,& Ilić, N.. (2023). Law and Economics of the Withdrawal Right in EU Consumer Law. in Review of Law & Economics
Walter de Gruyter Gmbh, Berlin., 19(3), 435-452.
https://doi.org/10.1515/rle-2022-0076
conv_3204

Karampatzos A, Ilić N. Law and Economics of the Withdrawal Right in EU Consumer Law. in Review of Law & Economics. 2023;19(3):435-452.
doi:10.1515/rle-2022-0076
conv_3204 .

Karampatzos, Antonios, Ilić, Nikola, "Law and Economics of the Withdrawal Right in EU Consumer Law" in Review of Law & Economics, 19, no. 3 (2023):435-452,
https://doi.org/10.1515/rle-2022-0076 .,
conv_3204 .