✦ LIBER ✦

Inappropriate sales in the financial services industry: the limits of the rational calculus?

✍ Scribed by David Leece

Publisher: John Wiley and Sons
Year: 2000
Tongue: English
Weight: 146 KB
Volume: 21
Category: Article
ISSN: 0143-6570
DOI: 10.1002/mde.978

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

The paper explores the notion of ‘misselling’ in the context of financial services. ‘Misselling’ is treated as a special case of error in the classification of a discrete dependent variable. A simulation study is conducted using the sale of mortgage debt to outright owners of property as an example of how inappropriate sales manifest themselves. This is followed by the actual case of endowment mortgage sales. The results and discussion suggests that ‘misselling’ can be viewed (i) in the context of empirical regularities and a rationalizable view of the data and/or (ii) as a non rationalizable situation where the ‘misselling’ becomes ‘pathological’. The paper highlights the need for a behavioural perspective, in addition to a more conventional economic treatment of the ‘misselling’ phenomenon. Copyright © 2000 John Wiley & Sons, Ltd.

📜 SIMILAR VOLUMES

The impact of the Internet on marketing

The impact of the Internet on marketing priorities in the financial services industry

✍ Lisa Harris; Anne-Marie Coles 📂 Article 📅 2004 🏛 John Wiley and Sons 🌐 English ⚖ 82 KB 👁 1 views

The savings of the poor: improving finan

The savings of the poor: improving financial services in Bangladesh

✍ Stuart Rutherford 📂 Article 📅 1998 🏛 John Wiley and Sons 🌐 English ⚖ 189 KB 👁 2 views

The capacity of the poor of Bangladesh to save is surprizingly large Ð surprizing to observers, and surprizing to the poor themselves. This capacity has long been used, with modest success, as the basis for self-help savings-and-loan devices that the poor (like others) have used in the absence of fo

On Limiting the Applications of the Uniq

On Limiting the Applications of the Uniqueness Rules in The Equation Calculus

✍ R. Louis Goodstein 📂 Article 📅 1973 🏛 John Wiley and Sons 🌐 English ⚖ 122 KB 👁 1 views

Considering the growth of the software s

Considering the growth of the software services industry in Mexico

✍ Ignacio Ania; Marcelo Mejía 📂 Article 📅 2007 🏛 Taylor and Francis Group 🌐 English ⚖ 445 KB 👁 1 views

This article proposes a combination of actions and decisions that companies from the Mexico's software services industry can carry out internally to obtain a sustainable competitive level in the national and international markets. An attitudinal survey 1 was carried out as primary research based on

Application limits of stainless steels i

Application limits of stainless steels in the petroleum industry

✍ M. Oberndorfer; K. Thayer; M. Kästenbauer 📂 Article 📅 2004 🏛 John Wiley and Sons 🌐 German ⚖ 208 KB 👁 1 views

## Abstract Stainless steels have a great variety of potential applications in the petroleum industry, mainly as an alternative to carbon steel in corrosive environments. Within a number of media that can cause corrosion problems with these materials, only chloride solutions and hydrogen sulfide ar

The role of service level agreements in

The role of service level agreements in the internet service provider industry

✍ Fred Engel 📂 Article 📅 1999 🏛 John Wiley and Sons 🌐 English ⚖ 117 KB 👁 1 views

Fred Engel is the Vice President of Engineering at Concord Communications, the leading developer of Web-based network reporting and analysis solutions that provide customers with the information they need to measure the effectiveness of their IT investment. Concord Communications is headquartered in