Extended service contracts: When and why do people buy them?

Consumer experts have long recommended against buying Extended Service Contracts (ESCs) with products, since they are rarely cost effective. A new study in the Journal of Consumer Research examines the reasons why so many people ignore the experts' advice.

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<p><a href="http://www.physorg.com/news164303107.html">Extended service contracts: When and why do people buy them?</a></p> <p>Consumer experts have long recommended against buying Extended Service Contracts (ESCs) with products, since they are rarely cost effective. A new study in the <i>Journal of Consumer Research</i> examines the reasons why so many people ignore the experts' advice.</p>