Showing 1 - 10 of 27
Why is tort law much more developed than unjust enrichment law? Is there a reason for the very different legal treatment of governmental takings and governmental givings? Why are contract remedies structured around the four ‘interests’ and why is the disgorgement interest only marginally...
Persistent link: https://www.econbiz.de/10014193518
This is a Review of Guido Calabresi’s fascinating and thought-provoking new book, The Future of Law and Economics (presented in a book symposium held at the Hebrew University of Jerusalem in December 2016). The Review proposes to break the notion of commodification, as used by Calabresi, into...
Persistent link: https://www.econbiz.de/10014123734
The basic rule in civil litigation is that the plaintiff carries the burden of proof and the general standard of proof is preponderance of the evidence. The plaintiff prevails if she establishes her case with a probability exceeding 0.5. Drawing on insights from behavioral economics and new...
Persistent link: https://www.econbiz.de/10014181038
This chapter, forthcoming in the Oxford Handbook of Behavioral Economics and the Law, critically reviews the behavioral literature on judicial decisionmaking. Among other things, it presents general theories of judicial decisionmaking, such as the story model and coherence-based reasoning. It...
Persistent link: https://www.econbiz.de/10014150869
תקציר בעברית: רשימה זו סוקרת באורח ביקורתי את ההישגים של הניתוח ההתנהגותי (ביהביוראלי) של החלטות שיפוטיות ואת האתגרים הניצבים בפני המחקר בתחום זה. בין היתר, הרשימה...
Persistent link: https://www.econbiz.de/10014146334
This is a chapter of a book titled Law, Economics, and Morality, which proposes to integrate threshold deontological constraints (and options) with cost-benefit analysis, thus combining economic methodology with deontological morality. The chapter discusses the claim that even if moderate...
Persistent link: https://www.econbiz.de/10014207023
The chapter critically surveys the behavioral analysis of commercial law. It begins by examining the preliminary question of whether bounded rationality can persist in well-functioning, highly competitive markets. As the theoretical analysis and empirical evidence demonstrate, irrational...
Persistent link: https://www.econbiz.de/10012931640
The market for legal services, and particularly lawyers' Contingent Fee (CF) arrangements, have been extensively studied from legal, economic and sociological standpoints, but curiously not from a behavioral perspective. Building on Kahneman and Tversky's Prospect Theory, this paper presents a...
Persistent link: https://www.econbiz.de/10014220839
Lawyers' Contingent Fee (CF) rates are rather uniform, often one-third of the recovery. Arguably, this uniformity is a type of anti-competitive price-fixing, which results in clients paying supra-competitive fees. This paper challenges this argument. It shows that uniform CF rates provide...
Persistent link: https://www.econbiz.de/10013007081
The law often lays down mandatory rules, from which the parties may deviate in favor of one party but not the other. Examples include the invalidation of high liquidated damages and the unenforceability of excessive non-compete clauses in employment contracts. In these cases, the law may...
Persistent link: https://www.econbiz.de/10012847648