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Economics
Dothan on Tit for Tat and Uncertainty
May 16, 2018
Shai Dothan (University of Copenhagen - iCourts - Centre of Excellence for International Courts) has posted When Immediate...
May 16, 2018
Shai Dothan (University of Copenhagen - iCourts - Centre of Excellence for International Courts) has posted When Immediate...
Zamir on Behavioral Foundations of Standard Economic Analysis
May 15, 2018
Eyal Zamir (Hebrew University of Jerusalem - Faculty of Law) has posted Reinforcing Law and Economics: Behavioral Support for the Predictions of Standard Economic Analysis on SSRN. Here is the abstract: Economic analysis has had a powerful influence on legal theory and policymaking. Based on the premise that people are rational maximizers of their own utility, economic analysis has a fairly successful record in correctly predicting human behavior in all spheres of life. This success is puzzling,...
May 15, 2018
Eyal Zamir (Hebrew University of Jerusalem - Faculty of Law) has posted Reinforcing Law and Economics: Behavioral Support for the Predictions of Standard Economic Analysis on SSRN. Here is the abstract: Economic analysis has had a powerful influence on legal theory and policymaking. Based on the premise that people are rational maximizers of their own utility, economic analysis has a fairly successful record in correctly predicting human behavior in all spheres of life. This success is puzzling,...
Force Overtime? Or Go for the Win?
February 4, 2018
Most other National Football League teams behave this way, too. In research to be published in the forthcoming issue of The Journal of Personality and Social Psychology, we examined every instance over a recent 10-year period in which N.F.L. teams faced a choice in the final minutes between kicking an extra point to tie the game or going for a 2-point conversion to win. The teams overwhelmingly chose to avoid the risk of immediate defeat: Of the 47 times teams faced this situation, they opted...
February 4, 2018
Most other National Football League teams behave this way, too. In research to be published in the forthcoming issue of The Journal of Personality and Social Psychology, we examined every instance over a recent 10-year period in which N.F.L. teams faced a choice in the final minutes between kicking an extra point to tie the game or going for a 2-point conversion to win. The teams overwhelmingly chose to avoid the risk of immediate defeat: Of the 47 times teams faced this situation, they opted...
Negotiation Journal Issue Dedicated to Howard Raiffa
November 2, 2017
We dedicate this issue of the Negotiation Journal to the accomplishments, wisdom, sprit, and memory of Howard Raiffa. It has been curated by guest editors James Sebenius and Max Bazerman, who have assembled an exceptional collection of reflections, commentaries, and testimonials – instructive as well as appreciative. Howard Raiffa was among the founding architects of decision science, game theory, and negotiation analysis as fields, as well as one of the founders of the Program on Negotiation...
November 2, 2017
We dedicate this issue of the Negotiation Journal to the accomplishments, wisdom, sprit, and memory of Howard Raiffa. It has been curated by guest editors James Sebenius and Max Bazerman, who have assembled an exceptional collection of reflections, commentaries, and testimonials – instructive as well as appreciative. Howard Raiffa was among the founding architects of decision science, game theory, and negotiation analysis as fields, as well as one of the founders of the Program on Negotiation...
Richard Thaler Wins Nobel for Work in Behavioral Economics
October 9, 2017
The Nobel prize in economics has been awarded to Richard Thaler of the University of Chicago for research showing how people's choices on economic matters — whether on savings or game shows like "Deal or No Deal" — are not always rational. The 9-million-kronor ($1.1-million) prize was awarded to the academic for his "understanding the psychology of economics," Swedish Academy of Sciences secretary Goran Hansson said Monday. Thaler is considered one of the founding fathers...
October 9, 2017
The Nobel prize in economics has been awarded to Richard Thaler of the University of Chicago for research showing how people's choices on economic matters — whether on savings or game shows like "Deal or No Deal" — are not always rational. The 9-million-kronor ($1.1-million) prize was awarded to the academic for his "understanding the psychology of economics," Swedish Academy of Sciences secretary Goran Hansson said Monday. Thaler is considered one of the founding fathers...
Dynamic Rationality
June 27, 2017
In 1998, Christine Jolls, Cass Sunstein, and Richard Thaler published A Behavioral Approach to Law and Economics, one of the most important pieces of scholarship in decades. Their Article famously proposes a departure from the classical law and economics approach to legal analysis. Breaking from classical law and economics’ rational actor construct, the authors apply empirical insights about human behavior to introduce the concept of a boundedly rational actor limited by cognitive constraints....
June 27, 2017
In 1998, Christine Jolls, Cass Sunstein, and Richard Thaler published A Behavioral Approach to Law and Economics, one of the most important pieces of scholarship in decades. Their Article famously proposes a departure from the classical law and economics approach to legal analysis. Breaking from classical law and economics’ rational actor construct, the authors apply empirical insights about human behavior to introduce the concept of a boundedly rational actor limited by cognitive constraints....
Legal Theory Bookworm: “The Ethics of Influence” by Sunstein
January 29, 2017
The Legal Theory Bookworm recommends The Ethics of Influence: Government in the Age of Behavioral Science on SSRN. Here is the abstract: In recent years, 'Nudge Units' or 'Behavioral Insights Teams' have been created in the United States, the United Kingdom, Germany, and other nations. All over the world, public officials are using the behavioral sciences to protect the environment, promote employment and economic growth, reduce poverty, and increase national security. In this book, Cass R. Sunstein,...
January 29, 2017
The Legal Theory Bookworm recommends The Ethics of Influence: Government in the Age of Behavioral Science on SSRN. Here is the abstract: In recent years, 'Nudge Units' or 'Behavioral Insights Teams' have been created in the United States, the United Kingdom, Germany, and other nations. All over the world, public officials are using the behavioral sciences to protect the environment, promote employment and economic growth, reduce poverty, and increase national security. In this book, Cass R. Sunstein,...
Does the Chief Justice Make Partisan Appointments to Special Courts and Panels?
February 25, 2016
The Chief Justice of the Supreme Court has the exclusive and independent power to appoint federal judges to various special courts and panels, including the Foreign Intelligence Surveillance Court (FISC), the court that oversees all domestic surveillance for national security, including domestic data collection by the National Security Agency (NSA). This article examines the propensity of Chief Justices to appoint co-partisan judges to these panels. Such appointments may serve to produce decisions...
February 25, 2016
The Chief Justice of the Supreme Court has the exclusive and independent power to appoint federal judges to various special courts and panels, including the Foreign Intelligence Surveillance Court (FISC), the court that oversees all domestic surveillance for national security, including domestic data collection by the National Security Agency (NSA). This article examines the propensity of Chief Justices to appoint co-partisan judges to these panels. Such appointments may serve to produce decisions...
SEC Investigations and Securities Class Actions: An Empirical Comparison
February 22, 2016
Using actions with both an SEC investigation and a class action as our baseline, we compare the targeting of SEC-only investigations...
February 22, 2016
Using actions with both an SEC investigation and a class action as our baseline, we compare the targeting of SEC-only investigations...
How Employment-Discrimination Plaintiffs Fare in the Federal Courts of Appeals
January 29, 2016
Employment-discrimination plaintiffs swim against the tide. Compared to the typical plaintiff, they win a lower proportion of cases during pretrial and after trial. Then, many of their successful cases are appealed. On appeal, they have a harder time in upholding their successes, as well in reversing adverse outcome. This tough story does not describe some tiny corner of the litigation world. Employment-discrimination cases constitute an increasing fraction of the federal civil docket, now reigning...
January 29, 2016
Employment-discrimination plaintiffs swim against the tide. Compared to the typical plaintiff, they win a lower proportion of cases during pretrial and after trial. Then, many of their successful cases are appealed. On appeal, they have a harder time in upholding their successes, as well in reversing adverse outcome. This tough story does not describe some tiny corner of the litigation world. Employment-discrimination cases constitute an increasing fraction of the federal civil docket, now reigning...
