Encyclopedia of Law and Economics

2019 Edition
| Editors: Alain Marciano, Giovanni Battista Ramello

Behavioral Law and Economics

  • Haksoo KoEmail author
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-7753-2_100

Definition

Behavioral law and economics is a research field in law and economics, which employs methodologies borrowed from behavioral economics. Behavioral economics in turn combines economics and cognitive psychology and produces research results indicating, in general, that individuals’ choices in various decision-making circumstances may depart from what can be predicted from traditional neoclassical economics due to psychological biases. Behavioral law and economics is a relatively new and growing field and has recently been applied to virtually all areas of law, generating interesting and sometimes provocative research results.

Behavioral Law and Economics

Behavioral law and economics is a relatively new field: academic writings began to appear in earnest in the late century. Although it initially focused on a few legal topics, it has recently been applied to virtually all areas of law, generating interesting, and sometimes provocative, research results.

Behavioral law and...

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Copyright information

© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  1. 1.School of LawSeoul National UniversitySeoulRepublic of Korea