Document Type

Article

Publication Title

Vanderbilt Law Review

Abstract

While I share the enthusiasm for a richer understanding of the behavioral dynamics of market actors, I wish to issue some cautions prior to the declaration of victory over more established economic analyses of the law. I offer these cautions as someone who has actively participated in developing the experimental economic literature and in seeking to apply it in the development of legal norms. But I also believe that in order to assess the prospects of behavioral law and economics it is necessary to understand the analytic strengths of the traditional law and economics model and to compare these to the development thus far of behavioral economics. I will structure this Essay accordingly and conclude with some observations about further developments both in behavioral economics and related fields.

First Page

1729

Volume

51

Publication Date

1998

Download

Share

COinS