A Behavioral-Pattern Driven Framework for Research on Financial Consumer Protection

Cho Man
Additional contact information
Cho Man: Emeritus Professor, KDI School of Public Policy and Management, South Korea

International Review of Financial Consumers, 2025, vol. 10, issue 1, 19-36

Abstract: This study attempts to advance the argument that targeting specific behavioral patterns serves as a value-adding complement to the rule- and principle-based consumer protection policies in financial markets. To that end, two particular optimization frameworks are specified to elaborate a set of suboptimal behavioral patterns that one can expect from demand- and supply-sides of the financial service sector: (1) a two-period (working age vs. retirement) intertemporal utility maximization framework for financial consumers; and (2) a profit (or net operating income per-period) maximization framework for financial intermediaries. Based on the models specified, a set of behavioral patterns to be tamed is identified and elaborated, and the research and policy agenda to nudge the consumers as well as the intermediaries to improve each behavioral pattern are discussed.

Keywords: Financial consumer protection; behavioral economics; and financial technologies (FinTech) (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/irfc-2025-0002 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:irfinc:v:10:y:2025:i:1:p:19-36:n:1002

DOI: 10.2478/irfc-2025-0002

Access Statistics for this article

International Review of Financial Consumers is currently edited by Sharon Tennyson

More articles in International Review of Financial Consumers from Sciendo
Bibliographic data for series maintained by Peter Golla ().