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Behavioral Law and Economics

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Encyclopedia of Law and Economics

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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 1990s. 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 economics is...

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Author information

Authors and Affiliations

  1. School of Law, Seoul National University, Seoul, Republic of Korea

    Haksoo Ko

Authors
  1. Haksoo Ko
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Correspondence to Haksoo Ko .

Editor information

Editors and Affiliations

  1. Montpellier, France

    Alain Marciano

  2. Dept DiGSPES, Univ del Piemonte Orientale Dept DiGSPES, Alessandria, Italy

    Giovanni Battista Ramello

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Ko, H. (2021). Behavioral Law and Economics. In: Marciano, A., Ramello, G.B. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7883-6_100-2

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  • DOI: https://doi.org/10.1007/978-1-4614-7883-6_100-2

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  • Publisher Name: Springer, New York, NY

  • Print ISBN: 978-1-4614-7883-6

  • Online ISBN: 978-1-4614-7883-6

  • eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences

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Chapter history

  1. Latest

    Behavioral Law and Economics
    Published:
    21 January 2022

    DOI: https://doi.org/10.1007/978-1-4614-7883-6_100-2

  2. Original

    Behavioral Law and Economics
    Published:
    07 October 2014

    DOI: https://doi.org/10.1007/978-1-4614-7883-6_100-1

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