Frequently deciding legal cases requires an assessment in multiple, conceptually incompatible dimensions. Often one normative concern would call for one decision, and another normative concern for a different decision. The decision-maker must engage in balancing, with no help from overarching...

Frequently deciding legal cases requires an assessment in multiple, conceptually incompatible dimensions. Often one normative concern would call for one decision, and another normative concern for a different decision. The decision-maker must engage in balancing, with no help from overarching...

The present value discount rate is about the investor, the expected market rate of return on his best alternative asset (BAA), his opportunity cost of buying a subject asset (not the subject's rate of return, subject owner's/seller's cost of capital, nor the required rate of return on an...

Researchers describing the discovery of something they are not equipped to fully understand run the risk that their reach will exceed their grasp. And so, as mere enthusiastic newcomers to the study of author Rex Stout, we will limit ourselves to: (1) reporting that we have run across an early...

For more than a century, careful readers of the Green Bag have known that “[t]here is nothing sacred in a theory of law...which has outlived its usefulness or which was radically wrong from the beginning...The question is What is the law and what is the true public policy?” Professor Orin...

By its critics, the rational choice model is routinely accused of being unrealistic. One key objection has it that, for all nontrivial problems, calculating the best response is cognitively way too taxing, given the severe cognitive limitations of the human mind. If one confines the analysis to...

Nobody could have known it at the time, but when Rex Stout's novella Justice Ends at Home was published in 1915, it foreshadowed not only the rise of two enduringly popular fictional heroes (Nero Wolfe and Archie Goodwin), but also the fall of one enduringly objectionable actual villain (Judge...

By its critics, the rational choice model is routinely accused of being unrealistic. One key objection has it that, for all nontrivial problems, calculating the best response is cognitively way too taxing, given the severe cognitive limitations of the human mind. If one confines the analysis to...

The consumer expectations test in products liability law holds firms liable for producing goods that are more dangerous than the reasonable consumer would anticipate. But judicial experience in the majority of states that have utilized the consumer expectations test demonstrates that it is...

We show that the disposition to focus on favorable or unfavorable outcomes of risky situations affects willingness to take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is strongly associated with optimism, a stable facet of...