TAILIEUCHUNG - ARTICLES: A Behavioral Approach to Law and Economics

Tài liệu về kinh tế học pháp luật. Tài liệu bằng tiếng Anh, . Economic analysis of law usually proceeds under the assumptions of neoclassical economics. But empirical evidence gives much reason to doubt these assumptions; people exhibit bounded rationality, bounded self-interest, and bounded willpower. This article offers a broad vision of how law and economics analysis may be improved by increased attention to insights about actual human behavior. It considers specific topics in the economic analysis of law and proposes new models and approaches for addressing these topics. The analysis of the article is organized into three categories: positive, prescriptive, and normative | ARTICLES A Behavioral Approach to Law and Economics Christine Jolls Cass R. Sunstein and Richard Thaler Economic analysis of law usually proceeds under the assumptions of neoclassical economics. But empirical evidence gives much reason to doubt these assumptions people exhibit bounded rationality bounded self-interest and bounded willpower. This article offers a broad vision of how law and economics analysis may be improved by increased attention to insights about actual human behavior. It considers specific topics in the economic analysis of law and proposes new models and approaches for addressing these topics. The analysis of the article is organized into three categories positive prescriptive and normative. Positive analysis of law concerns how agents behave in response to legal rules and how legal rules are shaped. Prescriptive analysis concerns what rules should be adopted to advance specified ends. Normative analysis attempts to assess more broadly the ends of the legal system Should the system always respect people s choices By drawing attention to cognitive and motivational problems of both citizens and government behavioral law and economics offers answers distinct from those offered by the standard analysis. Assistant Professor of Law Harvard Law School. Karl N. Llewellyn Distinguished Service Professor of Jurisprudence University of Chicago. Robert P. Gwinn Professor of Economics and Behavioral Science Graduate School of Business University of Chicago. We acknowledge the helpful comments of Ian Ayres Lucian Bebchuk Colin Camerer David Charny Richard Craswell Jon Elster Nuno Garoupa . Heaton Samuel Issacharoff Dan Kahan Louis Kaplow Lewis Kornhauser Lawrence Lessig Steven Levitt A. Mitchell Polinsky Eric Posner Richard Posner Richard Revesz Steven Shavell Jonathan Zittrain Ari Zweiman and participants at the American Law and Economics Association Annual Meeting the Boston University Law School Faculty Workshop the Columbia University Law and Economics

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