Deep-dive on regulatory issues

• Author: Pierre Hausemer - Julia Rzepecka - Marius Dragulin - Simone Vitiello - Lison Rabuel - Madalina Nunu - Adriana Rodriguez Diaz - Emma Psaila - Sara Fiorentini - Sara Gysen - Tim Meeusen - Simon Quaschning - Allison Dunne - Vadim Grinevich - Franz Huber - Linda Baines
• Pages: 35-38

Exploratory study of consumer issues in online peer-to-peer platform markets –

Task 3 Report

5. Deep-dive on regulatory issues

5.1. Legal rights and obligations

First of all, a lot of cu rrent users of online P2P platforms think that some of the more

basic legal rules (rights and obligations) applying in the traditional economy also

apply in the online P2P market, such as right of returning an item bought before a

certain period of time, sold as seen, etc. They don’t know that actually this isn’t really

the case. In other words, we can conclude that knowledge of the legal rules or

actually the lack of legal rules is fairly low.

“As far as I know the buyer is still protected by the Sale of Goods Act!” (DK)

“Dutch platforms are bound to Dutch regulation. It makes them trustworthy.” (NL)

Most respondents however appear to assume that these general legal rights and

obligations are an inherent part of the platform policy (the “general terms and

conditions”).

General terms and conditions are often accepted without reading them. The

information is deemed too long to read and is somehow a bit technical. It is not “user-

friendly” and uses “legal talk” that is not understandable to the average user, and thus

not helpful.

“I know there is something, but I have no idea how it works.” (PL)

“It’s too complicated and there is just too much information… Reading all of that …

God help me.” (SL)

“We accept the general conditions when we subscribe, but we do not read them ….”

(FR)

“It uses legal talk and this is sometimes really hard to understand.” (SL)

“I only read terms of payment, but not whole terms and conditions.” (SL)

Next to that, it should be mentioned that there is also a lack of involvement, a lack

of drive to wanting to know more about the right, obligations and platform rules.

Users know that there is risk involved and they are willing to accept that risk (as

explained in chapter 3.4), also because generally only sma ll amounts are involved and

you don’t use it to make a living. Additionally, legal rights, legal obligations and

platform policies are actually only considered when there are issues. Few look at it

beforehand, when using the platforms. They see it as a matter of problem solving,

not problem prevention.

“You will only start looking into it when something goes really wrong. Never before.”

(SL)

“You save a lot of money and then you take a chance.” (DK)

“I don’t have this need, I feel save enough.” (IT)

“The things you buy or deal can’t be too important to you or very expensive. Then you

should be safe.” (DK)