Definition
The tendency to consider the Behavioral Law and Economics and Cognitive Law and Economics as different sides of the same coin has been widespread inside the discipline. That was the consequence of a miscomprehension of what behavioral economics and cognitive economics are. These two research areas arise from a shared critique to standard neoclassical economics assumption of agents’ perfect rationality and a common idea that economic agents, in the real world, are heterogeneous and more cognitive complex than what the theory assumed, but soon they diverge pursuing different goals and partially applying different research tools. Particularly BL&E is more concerned with what agents do, while CL&E is more about how agents think.
Hence we need a proper discussion of what Cognitive Law and Economics is as well as we need a proper definition of Behavioral Law and Economics.
Introduction
Do we really need an autonomous definition for Cognitive Law and Economics or it is the same of...
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Ambrosino A (2014) A cognitive approach to law and economics: Hayek’s legacy. J Econ Issues 48(1):19–49
Ambrosino A (2016) Heterogeneity and law: toward a cognitive legal theory. J Inst Econ 12(2):417–442
Bourgine P, Nadal JP (eds) (2004) Cognitive economics: an interdisciplinary approach. Springer, London
Davis JB (2013) Economics imperialism under the impact of psychology: the case of behavioral development economics. Oeconomia 1:119–138
Ellickson RC (1989) Bringing culture and human frailty to rational actors: a critique of classical law and economics. Chicago Kent Law Rev 65:23–55
Fiske ST, Borgida E (1999) Social framework analysis as expert testimony in sexual harassment suits. In Estreicher S (ed.) Sexual harassment in the workplace: proceedings of New York University 51st annual conference on labor. New York, pp 575–577
Hayek FA (1982) Law, legislation and liberty. Routledge, London
Hodgson GM (2004) Reclaiming habit for institutional economics. J Econ Psychol 25:651–660
Jolls C, Sunstein CR, Thaler R (1998) A behavioral approach to law and economics. Stanford Law Rev 50:1471–1552
Kahneman D (1994) New challenges to the rationality assumption. J Inst Theor Econ 150:18–36
Kahneman D, Tvresky A (1974) Judgment under uncertainty: heuristics and bias. Science 185:1124–1131
Korobkin RB, Ulen TS (2000) Law and behavioral science: removing the rationality assumption from law and economics. Calif Law Rev 88(4):1051–1144
Loires G (1998) From social cognition to metacognition. In: Yzerbyt VY, Loires G, Dardenne B (eds) Metacognition: cognitive and social dimensions. Sage, London, pp 1–15
Mitchell G (2002a) Why law and economics’ perfect rationality should not be traded for behavioral law and economics’ equal incompetence. Georgetown Law J 91:67–167
Mitchell G (2002b) Thinking behavioralism too seriously? The unwarranted pessimism of the new behavioral analysis of law. William Mery Law Rev 43:1907–2021
Mitchell G (2003a) Tendencies versus boundaries: levels of generality in behavioral law and economics. Vanderbilt Law Rev 56:1781–1812
Mitchell G (2003b) Mapping evidence law. Michigan State Law Review, 1065–1148
Mitchell G (2005) Libertarian paternalism is an Oxymoron. Northwest Univ Law Rev 99(3):1245–1277
Mitchell G (2009) Second thoughts. McGeorge Law Rev 40:687–722
Mitchell G (2010) Good causes and bad science. Vanderbilt Law Rev Banc Roundtable 63:133–147
Mitchell G, Monahan L, Walker L (2011) Case-specific sociological inference: meta-norms for expert opinions. Sociol Methods Res 40:668–680
Monahan J, Walker L, Mitchell G (2009) The limits of social framework evidence. Law Probab Risk 8(4):307–321
North D (2005) Understanding the process of economic change. Princeton University Press, Princeton
Rachlinski JJ (2000) The “New” law and psychology: a reply to critics, skeptics, and cautious supporters. Cornell Rev 85:739–766
Rizzello S, Turvani M (2000) Institution meet mind: the way out of an impasse. Constit Polit Econ 11:165–180
Rizzello S, Turvani M (2002) Subjective diversity and social learning: a cognitive perspective for understanding institutional behavior. Constit Polit Econ 13:201–214
Rosenthal R (1979) The file drawer problem and tolerance for null results. Psychol Bull 86:638–641
Schelling TC (1960) The strategy of conflict. Harvard University Press, Cambridge, MA
Sent EM (2004) Behavioral economics: how psychology made its (limited) way back into economics. Hist Polit Econ 36:735–760er
Simmons JP, Nelson LD, Simonsohn U (2011) False-positive psychology: undisclosed flexibility in data collection and analysis allows presenting anything as significant. Psychol Sci 22:1359–1366
Simon H (1997) Models of bounded rationality. MIT Press, Cambridge, MA
Sunstein C, Thaler R (2003) Libertarian paternalism is not an Oxymoron. Univ Chicago Law Rev 70:1159–1202
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer Science+Business Media, LLC, part of Springer Nature
About this entry
Cite this entry
Ambrosino, A., Novarese, M. (2019). Cognitive Law and Economics. In: Marciano, A., Ramello, G.B. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7753-2_630
Download citation
DOI: https://doi.org/10.1007/978-1-4614-7753-2_630
Published:
Publisher Name: Springer, New York, NY
Print ISBN: 978-1-4614-7752-5
Online ISBN: 978-1-4614-7753-2
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences