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Behavioral Law and Economics : Cambridge Series on Judgement and Decision Making - Cass R. Sunstein

Behavioral Law and Economics

Cambridge Series on Judgement and Decision Making

By: Cass R. Sunstein (Editor)

Hardcover Published: 7th June 2000
ISBN: 9780521661355
Number Of Pages: 448

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This exciting volume marks the birth of a new field--a field that studies law with reference to an accurate, rather than a crude, understanding of human behavior. Behavioral Law and Economics presents new findings in cognitive psychology and behavioral economics, which show that people are frequently both unselfish and over-optimistic; that people have limited willpower and limited self-control; and that people are "boundedly" rational, in the sense that they have limited information-processing powers, and frequently rely on mental short-cuts and rules of thumb. Understanding this kind of human behavior has large-scale implications for the analysis of law, in areas including environmental protection, taxation and tax compliance, constitutional law, voting behavior, punitive damages for civil rights violations, labor negotiations and strikes, and corporate finance. Behavioral Law and Economics offers many new insights into these fields and suggestions for legal reform. With a better knowledge of human behavior, it is possible to predict the actual effects of law, to see how law might actually promote society's goals, and to reassess the questions of what law should be doing.

Industry Reviews

"Human psychology is complicated. The law and economics paradigm traditionally has treated it as simple. This volume splendidly marshals leading works by scholars whoin pursuit of realism--seek to add complexity to the traditional paradigm. A significant landmark in the field of law and social science." Robert C. Ellickson, Walter E. Meyer Professor of Property and Urban Law, Yale Law School "...this is a valuable contribution to the study of law and courts...This compilation serves to focus discussion on a set of particularly important theoretical challenges to the standard economic model. Thus, this book belongs on the shelf of any student of the law and courts who advocates or challenges the rational choice model of decision making on the courts." Paul J. Wahlbeck, The Law & Politics Book Review "...the essays in this book provide a clear and vivid introduction into a research program that promises to illuminate our understanding of how law influences behavior." New York Law Journal

Introduction Cass
Overviews and Prospects
A behavioral approach to law and economics
Heuristics and Biases: Shortcuts, Errors and Legal Decisions
Context-dependence in legal decision making
A positive psychological theory of judging in hindsight
Behavioral economics, contract formation, and contract law
Organized illusions: a behavioral theory of why corporations mislead stock market investors (and cause other social harms)
Reluctance to vaccinate: omission bias and ambiguity
Second-order decisions
Valuation: Values and Dollars in the Legal System
Experimental tests of the endowment effect and the cause theorem
Assessing punitive damages (with notes on cognition and valuation in law)
Framing the jury: cognitive perspective on pain and suffering award
Behavioral economic analysis of redistributive legal rules
Do parties to nuisance cases bargain after judgment? A glimpse inside the cathedral
The Demand for Law: Why Law Is As It Is
Some implications of cognitive psychology for risk regulation
Explaining bargaining impasse: the role of self-serving biases
Controlling availability cascades
Cognitive theory and tax
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521661355
ISBN-10: 0521661358
Series: Cambridge Series on Judgement and Decision Making
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 448
Published: 7th June 2000
Country of Publication: GB
Dimensions (cm): 23.52 x 16.1  x 3.4
Weight (kg): 0.79

Earn 609 Qantas Points
on this Book