Foundations of Law and Economics
Law and Behavioral Science: Removing the Rationality Assumption from Law and Economics
Russell B. Korobkin and Thomas S. Ulen
- Year
- 2000
- Venue
- California Law Review
- Level
- Advanced
Summary
Argues that law and economics should replace its strong rationality assumption with a more empirically grounded account of human behavior. The article surveys evidence from cognitive psychology and related behavioral sciences, then explains how legal policy analysis changes when bounded rationality, framing, heuristics, and social preferences are taken seriously.
Citation
Russell B. Korobkin and Thomas S. Ulen. "Law and Behavioral Science: Removing the Rationality Assumption from Law and Economics." California Law Review, 2000.
BibTeX
@article{Korobkin2000Law,
title = {Law and Behavioral Science: Removing the Rationality Assumption from Law and Economics},
author = {Russell B. Korobkin and Thomas S. Ulen},
year = {2000},
journal = {California Law Review},
url = {https://lawcat.berkeley.edu/record/1117267}
}