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Edward Elgar Publishing
Research Handbook on Behavioral Law and Economics

Research Handbook on Behavioral Law and Economics

by Joshua C. Teitelbaum, Kathryn ZeilerJoshua C. Teitelbaum


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The field of behavioral economics has contributed greatly to our understanding of human decision making by refining neoclassical assumptions and developing models that account for psychological, cognitive, and emotional forces. The field’s insights have important implications for law. This Research Handbook offers a variety of perspectives from renowned experts on a wide-ranging set of topics including punishment, finance, tort law, happiness, and the application of experimental literatures to law. It also includes analyses of conceptual foundations, cautions, limitations and proposals for ways forward.

The leading scholars of law, economics, and psychology featured in this Research Handbook use their insights to synthesize and contribute to the extant research at the intersection of behavioral economics and key areas of law, and to demonstrate methods for effective original research. With synthetic literature reviews and original research, conceptual overviews and critical perspectives, as well as topic-specific chapters, it provides a strong overview of this burgeoning field.

Law and economics scholars, behavioral law scholars, and behavioral economists and psychologists dealing with law, judgement and decision-making will appreciate this Research Handbook’s dedication to applicable research, and judges, lawmakers, policy advocates and regulators will note its important practical implications for law and public policy.

Product Details

ISBN-13: 9781789909265
Publisher: Edward Elgar Publishing
Publication date: 09/02/2019
Series: Research Handbooks in Law and Economics Series
Pages: 544
Product dimensions: 6.62(w) x 9.62(h) x (d)

About the Author

Edited by Joshua C. Teitelbaum, Georgetown University Law Center and Kathryn Zeiler, Boston University, School of Law, US

Table of Contents



Joshua C. Teitelbaum and Kathryn Zeiler

PART I Foundations

1. Conceptual Foundations: A Bird’s-Eye View

Jonathan Baron and Tess Wilkinson-Ryan

2. Behavioral Probability

Alex Stein

PART II Antitrust and Consumer Finance

3. Exclusionary Vertical Restraints and Antitrust: Experimental Law and Economics Contributions

Claudia M. Landeo

4. Balancing Act: New Evidence and a Discussion of the Theory on the Rationality and Behavioral Anomalies of Choice in Credit Markets

Marieke Bos, Susan Payne Carter and Paige Marta Skiba

5. The Effect of Advertising on Home Equity Credit Choices

Sumit Agarwal and Brent W. Ambrose

PART III Crime and Punishment

6. Punishment, Social Norms, and Cooperation

Erte Xiao

7. Prospect Theory, Crime and Punishment

Sanjit Dhami and Ali al-Nowaihi


8. Behavioral Models in Tort Law

Barbara Luppi and Francesco Parisi

9. Law and Economics and Tort Litigation Institutions: Theory and Experiments

Claudia M. Landeo

PART V Happiness and Trust

10. Happiness 101 for Legal Scholars: Applying Happiness Research to Legal Policy, Ethics, Mindfulness, Negotiations, Legal Education, and Legal Practice

Peter H. Huang

11. Trust and the Law

Benjamin Ho and David Huffman

PART VI Experiments and Neuroeconomics

12. Law and Economics in the Laboratory

Gary Charness and Gregory DeAngelo

13. What Explains Observed Reluctance to Trade? A Comprehensive Literature Review

Kathryn Zeiler

14. Incentives, Choices, and Strategic Behavior: A Neuroeconomic Perspective for the Law

Terrence Chorvat and Kevin McCabe

PART VII Cautions and Ways Forward

15. The Price of Abstraction

Gregory Mitchell

16. Why Behavioral Economics Isn't Better, and How It Could Be

Owen D. Jones


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