Section Description Provided by Instructor
The economic analysis of law has predominated much of legal analysis for the past few decades. Within this framework, rational choice theory has taken central stage as the key model used in order to predict human behavior. In recent years, however, researchers both in economics and in psychology have demonstrated that people systematically deviate from the predictions set forth by the rational choice model. The goal of this course is to incorporate these findings into legal analysis. In doing so we will first examine traditional economic analysis of law, and then explore how the conclusions of this analysis are altered when behavioral insights are incorporated into it.
Topics that will be discussed in the class include: contract law and contracting, tort law, litigation and settlement negotiations, and the behavior of judges and jurors.
Reading – there will be a syllabus with assorted references (no case book).