... extend less total credit in the restricted market than in the unrestricted market. This insight is rel-evant for a central controversy surrounding the above regulations of the credit market. Opponents ... worse off in the restricted than in the unrestricted market, so the restricted market does not Pareto dominate the unrestricted one; and since all borrowers think they are sophisticated, they all ... 175–79.Warren, Elizabeth. 2007. “Examining the Billing, Marketing, and Disclosure Practices of the Credit Card Industry, and Their Impact on Consumers.” Testimony before the Committee on Banking, Housing, and Urban...