European Perspectives on Behavioural Law and Economics
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Beschreibung
This anthology highlights the theoretical foundations as well as the various applications of Behavioural Law and Economics in European legal culture. By the same token, it fosters the dialogue between European and American Law and Economics scholars.
The traditional neo-classical microeconomic theory explains human behaviour by using Rational Choice. According to this model, people tend to maximize the difference between expected utility and cost (“expected utility theory”). This theory includes three assumptions: (1) unbounded rationality, (2) unbounded self-interest, and (3) unbounded willpower. Behavioural Economics questions these assumptions and endeavours to render economic analysis more realistic by underpinning it with psychological insights. In recent years, the influence of Behavioural Economics on the Economic Analysis of Law has gained momentum. Behavioural Law and Economics generates a better theoretical understanding of legal phenomena and offers a multitude of applications in legislation and legal adjudication.
This volume is testament to the growing and thriving Law and Economics movement in Europe. The European Law and Economics community has steadily grown and the yearly Law and Economics Conference at the law faculty of the University of Lucerne has successfully become a guiding star in the vast sky of Law and Economics.
This anthology highlights the theoretical foundations as well as the various applications of Behavioural Law and Economics in European legal culture. By the same token, it fosters the dialogue between European and American Law and Economics scholars.
The traditional neo-classical microeconomic theory explains human behaviour by using Rational Choice. According to this model, people tend to maximize the difference between expected utility and cost (“expected utility theory”). This theory includes three assumptions: (1) unbounded rationality, (2) unbounded self-interest, and (3) unbounded willpower. Behavioural Economics questions these assumptions and endeavours to render economic analysis more realistic by underpinning it with psychological insights. In recent years, the influence of Behavioural Economics on the Economic Analysis of Law has gained momentum. Behavioural Law and Economics generates a better theoretical understanding of legal phenomena and offers a multitude of applications in legislation and legal adjudication.
This volume is testament to the growing and thriving Law and Economics movement in Europe. The European Law and Economics community has steadily grown and the yearly Law and Economics Conference at the law faculty of the University of Lucerne has successfully become a guiding star in the vast sky of Law and Economics.
First book to focus on Europe for the development and influence of Behavioural Law and Economics? Shows how Behavioural Economics helps generate better theoretical insights into legal phenomena Provides a systematic survey of the development and influence of Behavioural Law and Economics in Europe Combines theoretical analyses with practical examples Includes supplementary material: sn.pub/extras
Autor*in
Klaus Mathis
Themen in »European Perspectives on Behavioural Law and Economics«
Behavioural Antitrust Behavioural Decision Making and the Law Behavioural Law and Economics Bounded rationality Civil Standard of Proof Cognitive biases EU Consumer EU Internal Market Law Economic analysis of law European Perspectives on Behavioural Law and Economics Financial Markets Law Financial Markets Regulation Impact of Behavioural Economics on Competition Law Investor Behaviour Limits of Consumer Choice