Consumers in the Knowledge-Based Economy (KBE): What creates and/or constitutes consumer vulnerability in the KBE? |
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Authors: | Margaret K Hogg Geraint Howells David Milman |
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Institution: | 1.Consumer Behaviour and Marketing,Lancaster University Management School,Lancaster,UK;2.Department of Law,Lancaster University,Lancaster,UK |
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Abstract: | We reflect on the issues which emerged from an interdisciplinary workshop held under the aegis of the Institute for Advanced Studies (IAS), Lancaster University in April 2006 about the Knowledge-Based Economy (KBE). The workshop addressed the question: What creates or constitutes consumer vulnerability in the KBE within the context of financial services? Discussion revolved around four themes: Firstly, setting debates about KBE in a historical context; secondly, identifying the disciplinary perspective for constructing the consumer (e.g., economic, legal); thirdly defining vulnerability without encompassing more than 70% of the population; and finally evaluating the government’s role in consumer welfare and education in the KBE. Directions for future research were identified. |
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