German Abstract: Law and Economics ist eine etablierte Disziplin. Behavioral Law and Economics ist jünger, aber gewinnt auch an Boden. Aber beides ist vor allem ein Austausch zwischen Spezialisten, die oft auch einen Abschluss in einer Sozial- oder Verhaltenswissenschaft haben. Dieser Text...

Behavioral law and economics applies the conceptual tools of behavioral economics to the analysis of legal problems and legal intervention. These models, and the experiments to test them, assume an institution free state of nature. In modern societies, the law's subjects never see this state of...

Oliver Williamson has coined the term “fundamental transformation”. It captures the following situation: before they strike a deal, buyer and seller are protected by competition. Yet thereafter they find themselves in a bilateral monopoly. With common knowledge of standard preferences, both...

Frequently in experiments there is not only variance in the reaction of participants to treatment. The heterogeneity is patterned: discernible types of participants react differently. In principle, a finite mixture model is well suited to simultaneously estimate the probability that a given...

We test 494 households participating in the German Socio Economic Panel SOEP to examine risk taking by one household member that affects a second household member. Choices cannot be explained by (short term) strategic behavior. Respect for the risk preference of the counterpart is at best...

Arguably, for many citizens the perceived expected disutility from sanctions is smaller than the monetary gain from tax evasion. Nevertheless most people pay their taxes most of the time. In a lab experiment, we show that the willingness to pay taxes even absent enforcement is indeed pronounced....

Judges are human beings. Is their behavior therefore subject to the same effects that psychology and behavioral economics have documented for convenience samples, like university students? Does that fact that they decide on behalf of third parties moderate their behavior? In which ways does the...

Often, religion, law and tradition co-evolve. Religious precepts shape social practice, which translates into law. Yet this harmony is not universal. The Sharia guarantees daughters their share in the family estate. Yet in Pakistan, this rule clashes with tradition. While the country was jointly...

German Abstract: Die Worte Wettbewerb und Gemeinwohl kommen im Grundgesetz nicht vor. In ständiger Rechtsprechung betont das Bundesverfassungsgericht, dass das Grundgesetz keine Entschei dung über die deutsche Wirtschaftsverfassung getroffen hat. Gleichwohl hat das Gericht häufig über das...

Panel effects have been widely studied in randomly composed panels. However for many courts, panel composition stays constant. Then judges become familiar with each other. They know what to expect from each other. There is room for mutual trust. A local culture may emerge. If rejection is the...