Law 792:  Behavioral Economics & the Law

The economic analysis of law relies on rational choice theory as a starting point for predicting human behavior. However, social scientists have found that human behavior in the real world systematically deviates from the rational choice model’s predictions. The objective of this course is to consider the ways in which behavioral findings complement or modify the economic analysis of law. Students will be introduced to biases and heuristics that influence human behavior related to the law; critiques of behavioral law and economics; and behavioral insights from psychologists and economists in property, torts, contracts, criminal law, the decision-making of judges and jurors, and litigation.

 Sequences and Prerequisites: A basic understanding of property, torts, contracts, criminal law, and civil procedure.

 Evaluation: Course evaluation will be based on participation, weekly reading responses, and a final paper.