Behavioural Finance and Investor Protection Regulations |
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| Authors: | Gerald Spindler |
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| Institution: | 1.Institute of Commercial Law, Faculty of Law,University of G?ttingen,G?ttingen,Germany |
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| Abstract: | The article deals with behavioural assumptions in legal norms, in particular with regard to investor protection norms in Europe
and Germany as well as court rulings. Whereas traditional legal norms are based on the assumption of rationale behaviour,
the financials crisis has demonstrated the pitfalls of the classical notions of economics, thus leading to new insights of
behavioural economics. However, it is still unclear how behavioural economics may serve as a means to improve legal protection
of investors. Neither a strong paternalism nor a simple extension of information obligation may suffice in the future. |
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