The Law and Economics of Irrational Behavior
“Progressive law scholars will want to read this lively, wide-ranging, and fun collection. The impressive cast of contributors keeps a clear eye on how law can be informed by formal models of limits on rationality.” —Colin F. Camerer,Axline Professor of Business Economics, California Institute of Technology
Search in google:
This collection of essays explores the most relevant developments at the interface of economics and psychology, giving special attention to models of irrational behavior, and draws the relevant implications of such models for the design of legal rules and institutions.
Introduction1Ch. 1Departures from rational choice : with and without regret13Ch. 2Is the mind irrational or ecologically rational?37Ch. 3Lessons from neuroeconomics for the law68Ch. 4Treating yourself instrumentally : internalization, rationality, and the law95Ch. 5Addiction, choice, and irrationality111Ch. 6Revenge and retaliation141Ch. 7What makes trade possible?169Ch. 8Satisfaction and learning : an experimental game to measure happiness186Ch. 9The market for laughter208Ch. 10The jurisprudence of craziness225Ch. 11On law enforcement with boundedly rational actors268Ch. 12The biology of irrationality : crime and the contingency of deterrence287Ch. 13Analyzing illicit drug markets when dealers act with limited rationality315Ch. 14On the psychology of punishment339Ch. 15Some well-aged wines for the "new norms" bottles: implications of social psychology for law and economics358Ch. 16Human fallibility and the forms of law : the case of traffic safety397Ch. 17The free radicals of tort425Ch. 18Probability errors : some positive and normative implications for tort and contract law456Ch. 19Threatening an "irrational" breach of contract474Ch. 20Regulating irrational exuberance and anxiety in securities markets501Ch. 21In praise of investor irrationality542
