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LAWS 4428 Behavioral Law & Economics (Spring: 3 )


Course Description

Humans are imperfect. They misperceive facts, lack willpower, don't know what makes themselves happy, take mental shortcuts, get impatient, can't do math. Should these facts matter for the design of legal systems? For example, should the law protect mistaken consumers, or would doing so only discourage buyers from learning to overcome their shortcomings? This seminar explores these questions in a number of legal contexts, including not only consumer protection but also criminal law, public finance, administrative law, corporate law, and others. We will begin with a brief review of basic economic concepts such as utility, supply & demand, expected value, and rational choice under uncertainty


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Prerequisites: None

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Last Updated: 17-Feb-14