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Behavioral Law and Economics: Law, Policy, and Science

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  • Thomas S. Ulen

Abstract

This Article first introduces some of the important concepts of behavioral studies and then develops some significant examples of their application to issues in law and economics (contrasting the behavioral analysis with that of rational choice theory). The penultimate section considers four criticisms of behavioral analysis. The concluding section seeks to assess both why behavioral analysis is important and what further scholarship in behavioral law and economics is most crucial.

Suggested Citation

  • Thomas S. Ulen, 2013. "Behavioral Law and Economics: Law, Policy, and Science," Supreme Court Economic Review, University of Chicago Press, vol. 21(1), pages 5-42.
    • Handle: RePEc:ucp:scerev:doi:10.1086/675264
    DOI: 10.1086/675264
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    Cited by:

    1. Andrzej Baniak & Peter Grajzl, 2017. "Optimal Liability when Consumers Mispredict Product Usage," American Law and Economics Review, American Law and Economics Association, vol. 19(1), pages 202-243.
    2. Tsvetanov, Tsvetan & Miceli, Thomas J. & Segerson, Kathleen, 2021. "Products liability with temptation bias," Journal of Economic Behavior & Organization, Elsevier, vol. 186(C), pages 76-93.
    3. Macatangay, Rafael Emmanuel “Manny”, 2016. "Optimal local content requirement policies for extractive industries," Resources Policy, Elsevier, vol. 50(C), pages 244-252.

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