The standard model of optimal deterrence predicts that the probability of wrongful conviction of the innocent is, at the margin, as detrimental to deterrence as the probability of wrongful acquittal of guilty individuals. We extend the model in several directions: using expected utility as well...

The Behavioral Economics of Accuracy and Discrimination at Trial -- Truth Standards in Behavioral Law and Economics -- The Fundamental Attribution Error and Accuracy in Trial Settings: Judges vs Jurors -- Implicit Racial Biases in Tort Trials -- Gender and Race-Based Statistical Tables in...

"Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues...

In Fairness versus Welfare (2003), Louis Kaplow and Steven Shavell provide a manifesto for normative law and economics. Therein, they spell out the foundations for contemporary law and economics based on a Paretian consequentialist welfarism and a preferentialist account of welfare. We argue in...