IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-137-31357-7_3.html
   My bibliography  Save this book chapter

How Behavioral Economics Met Law and Economics and Begat Nudge

In: The Manipulation of Choice

Author

Listed:
  • Mark D. White

Abstract

It didn’t take long for the insights of behavioral economics to reach the field of law and economics, in which economic principles and analysis are applied to legal issues, and which is now considered a dominant approach to legal studies in law schools across the country and throughout the world. Law and economics uses economic models of choice to study how laws affect human behavior and societal outcomes (such as accident and crime rates), as well as to recommend changes in laws and legal procedures to influence behavior and improve outcomes. Behavioral law and economics was born when behavioral economists and legal scholars began to criticize the use of the shortsighted standard economic models of choice to study the law. When law and economics is enhanced with behavioral research, the resulting models of choice will predict different behavior when cognitive biases and dysfunctions are accounted for, which will change the models’ recommendations for legal policymaking and regulation. For instance, mistaken perceptions of risk will affect people’s decision-making in situations such as accident precaution, which affects their reactions to legal standards regarding negligence and liability, and in turn this may suggest changes in the standards themselves.

Suggested Citation

  • Mark D. White, 2013. "How Behavioral Economics Met Law and Economics and Begat Nudge," Palgrave Macmillan Books, in: The Manipulation of Choice, chapter 0, pages 43-59, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31357-7_3
    DOI: 10.1057/9781137313577_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-137-31357-7_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.