This analysis uncovers the agency problem in motor finance litigation, suggesting implications for consumer protection.
The agency problem describes the information asymmetry where the agent knows more than the principal, who accordingly is vulnerable to the agent taking advantage. It is the central issue in the motor finance litigation, where the basic facts are that a consumer buys a car on credit from a dealer who takes a secret commission from the lender or hides other salient facts from the buyer.
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Derek Whayman (2026) studied this question.
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