How companies use misleading practices

Today I would like to discuss how the market uses practices that mislead customers. By this we mean products about which consumers do not have complete information, do not fully understand how they are arranged in terms of hidden commissions, fees and the like. I am going to share some of the main research findings in this area, in particular the work of Takeshi Maruka and Paul Heidhues. I note right away that this topic is still very poorly covered in the scientific literature, there are many gaps and open questions. The motivation for this line of research is that in a large number of sectors of the retail market, many consumers do not fully understand the main characteristics of the product and, what is important , underestimate some of the price components, such as fees that are incurred when using a product. They are also called hidden commissions. In this lecture I will not give specific examples, but I will touch upon important applications of this practice in life, although without a few general examples …

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