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European Perspectives on Behavioural Law and Economics

  • Klaus Mathis

Part of the Economic Analysis of Law in European Legal Scholarship book series (EALELS, volume 2)

Table of contents

  1. Front Matter
    Pages i-xv
  2. Foundation

    1. Front Matter
      Pages 1-1
    2. Klaus Mathis, Ariel David Steffen
      Pages 31-48
  3. Applications

    1. Front Matter
      Pages 49-49
    2. Martin Engel, Johanna Stark
      Pages 107-123
    3. Edgar Klinger, Günter Bierbrauer
      Pages 147-157
    4. Geneviève Helleringer
      Pages 193-209
    5. Andreas Heinemann
      Pages 211-242
    6. Mariusz J. Golecki
      Pages 243-267
  4. Back Matter
    Pages 269-271

About this book

Introduction

This anthology highlights the theoretical foundations as well as the various applications of Behavioural Law and Economics in European legal culture. By the same token, it fosters the dialogue between European and American Law and Economics scholars.

The traditional neo-classical microeconomic theory explains human behaviour by using Rational Choice. According to this model, people tend to maximize the difference between expected utility and cost (“expected utility theory”). This theory includes three assumptions: (1) unbounded rationality, (2) unbounded self-interest, and (3) unbounded willpower. Behavioural Economics questions these assumptions and endeavours to render economic analysis more realistic by underpinning it with psychological insights. In recent years, the influence of Behavioural Economics on the Economic Analysis of Law has gained momentum. Behavioural Law and Economics generates a better theoretical understanding of legal phenomena and offers a multitude of applications in legislation and legal adjudication.

This volume is testament to the growing and thriving Law and Economics movement in Europe. The European Law and Economics community has steadily grown and the yearly Law and Economics Conference at the law faculty of the University of Lucerne has successfully become a guiding star in the vast sky of Law and Economics.

Keywords

Behavioural Antitrust Behavioural Decision Making and the Law Behavioural Law and Economics Bounded rationality Civil Standard of Proof Cognitive biases EU Consumer EU Internal Market Law Economic analysis of law European Perspectives on Behavioural Law and Economics Financial Markets Law Financial Markets Regulation Impact of Behavioural Economics on Competition Law Investor Behaviour Limits of Consumer Choice Optimal Liability for Libel Perceptions of Civil Procedure Social Market Economy Status Quo Bias Unfair Practices Directive

Editors and affiliations

  • Klaus Mathis
    • 1
  1. 1.Faculty of LawUniversity of LucerneLucerneSwitzerland

Bibliographic information