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The Law and Economics of Irrational Behavior

Vernon L Smith editor Francesco Parisi editor

Format:Paperback

Publisher:Stanford University Press

Published:18th Jan '05

Currently unavailable, and unfortunately no date known when it will be back

The Law and Economics of Irrational Behavior cover

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. The application of economic models of irrational behavior to law is especially challenging because specific departures from rational behavior differ markedly from one another.

Furthermore, the analytical and deductive instruments of economic theory have to be reshaped to deal with the fragmented and heterogeneous findings of psychological research, turning towards a more experimental and inductive methodology. This volume brings together pioneering scholars in this area, along with some of the most exciting developments in the field of legal and economic theory. Areas of application include criminal law and sentencing, tort law, contract law, corporate law, and financial markets.

"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

ISBN: 9780804751445

Dimensions: unknown

Weight: 816g

632 pages