Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to such phenomena as the status quo and omission biases, the endowment effect, and escalation of commitment. The book systematically analyzes the relationships between loss aversion and the law.
Consumer law is worthy of greater academic attention at a time when many new questions arise and old ones need new answers. This unique handbook takes the reader on a journey through existing literature, research questions and methods. It builds on the state of the art to offer a springboard for jumping to the heart of contemporary issues and equips researchers with a starter’s kit to weave together rich traditions, ranging from socio-economics to behavioural analysis.
Economics and ethics are both valuable tools for analyzing the behavior and actions of human beings and institutions. Adam Smith, the father of modern economics, considered them two sides of the same coin, but since economics was formalized and mathematicised in the late 1800s and early 1900s, the fields have largely followed separate paths. The Oxford Handbook of Ethics and Economics provides a timely and thorough survey of the various ways ethics can, does, and should inform economic theory and practice. The first part of the book, Foundations, explores how the most prominent schools of moral philosophy relate to economics; asks how morals relevant to economic behavior may have evolved; and explains how various approaches to economics incorporate ethics into their work. The second part, Applications, looks at the ethics of commerce, finance, and markets; uncovers the moral dilemmas involved with making decisions regarding social welfare, risk, and harm to others; and explores how ethics is relevant to major topics within economics, such as health care and the environment. With esteemed contributors from economics and philosophy, The Oxford Handbook of Ethics and Economics is a resource for scholars in both disciplines and those in related fields. It highlights the close relationship between ethics and economics in the past while and lays a foundation for further integration going forward.
In the past few decades, economic analysis of law has been challenged by a growing body of experimental and empirical studies that attest to prevalent and systematic deviations from the assumptions of economic rationality. While the findings on bounded rationality and heuristics and biases were initially perceived as antithetical to standard economic and legal-economic analysis, over time they have been largely integrated into mainstream economic analysis, including economic analysis of law. Moreover, the impact of behavioral insights has long since transcended purely economic analysis of law: in recent years, the behavioral movement has become one of the most influential developments in legal scholarship in general. Behavioral Law and Economics offers a state-of-the-art overview of the field. Eyal Zamir and Doron Teichman survey the entire body of psychological research that lies at the basis of behavioral analysis of law, and critically evaluate the core methodological questions of this area of research. Following this, the book discusses the fundamental normative questions stemming from the psychological findings on bounded rationality, and explores their implications for setting the law's goals and designing the means to attain them. The book then provides a systematic and critical examination of the contributions of behavioral studies to all major fields of law including: property, contracts, consumer protection, torts, corporate, securities regulation, antitrust, administrative, constitutional, international, criminal, and evidence law, as well as to the behavior of key players in the legal arena: litigants and judicial decision-makers.
The past twenty years have witnessed a surge in behavioral studies of law and law-related issues. These studies have challenged the application of the rational-choice model to legal analysis and introduced a more accurate and empirically grounded model of human behavior. This integration of economics, psychology, and law is breaking exciting new ground in legal theory and the social sciences, shedding a new light on age-old legal questions as well as cutting edge policy issues. The Oxford Handbook of Behavioral Economics and Law brings together leading scholars of law, psychology, and economics to provide an up-to-date and comprehensive analysis of this field of research, including its strengths and limitations as well as a forecast of its future development. Its 29 chapters organized in four parts. The first part provides a general overview of behavioral economics. The second part comprises four chapters introducing and criticizing the contribution of behavioral economics to legal theory. The third part discusses specific behavioral phenomena, their ramifications for legal policymaking, and their reflection in extant law. Finally, the fourth part analyzes the contribution of behavioral economics to fifteen legal spheres ranging from core doctrinal areas such as contracts, torts and property to areas such as taxation and antitrust policy.
Law and economics can be considered as the most exciting development in legal scholarship in recent decades. This volume is the first all-encompassing bibliography in this area. It lists approximately 7000 publications, covering the whole area of law and economics, including `old' law and economics (topics such as antitrust law, labor law, tax law, social security, economic regulation, etc.) as well as `new' law and economics with such topics as tort law, contract law, family law, procedure, criminal law, etc.). The volume also includes the literature on the philosophical foundations and the fundamental concepts of the approach. Part Two gives a special survey of law and economics publications in Europe, written in other languages than English. The Bibliography of Law and Economics is an invaluable reference work for students, scholars, lawyers, economists and other people interested in this field.
Russell Hardin presents a new explication of David Hume's moral and political theory. With Hume, he holds that our normative views can be scientifically explained but they cannot be justified as true. Hume argued for the psychological basis of such views. In particular, he argued for sympathy as the mirroring of the psychological sensations and emotions of others. By placing Hume in the developing tradition of social science, as a strong forerunner of his younger friend Adam Smith, Hardin demonstrates Hume's strong strategic sense, his nascent utilitarianism, his powerful theory of convention as a main source of social and political order, and his recognition of moral and political theory as a single enterprise.
Featuring more than 800 answers to questions of how the human mind and the science of psychology really work, this fascinating discussion gives readers the real facts of modern psychology in a fun, approachable way. Avoiding the entertainment fluff of pop psychology and the dryness of overly academic works, this exploration gives insight into the current science of the mind by answering questions questions such as What makes a marriage last? Why do toddlers have temper tantrums? and What are the benefits of getting older? In addition to the question-and-answer section, an overview looks at the psychology of money, sex, morality, and everyday living.
To address the growing complexities of childhood cancer, Nathan and Oski’s Hematology and Oncology of Infancy and Childhood has now been separated into two distinct volumes. With this volume devoted strictly to pediatric oncology, and another to pediatric hematology, you will be on the cutting edge of these two fields. This exciting new, full-color reference provides you with the most comprehensive, authoritative, up-to-date information for diagnosing and treating children with cancer. It brings together the pathophysiology of disease with detailed clinical guidance on diagnosis and management for the full range of childhood cancers, including aspects important in optimal supportive care. Written by the leading names in pediatric oncology, this resource is an essential tool for all who care for pediatric cancer patients. Offers comprehensive coverage of all pediatric cancers, including less common tumors, making this the most complete guide to pediatric cancer. Covers emerging research developments in cancer biology and therapeutics, both globally and in specific pediatric tumors. Includes a section on supportive care in pediatric oncology, written by authors who represent the critical subdisciplines involved in this important aspect of pediatric oncology. Uses many boxes, graphs, and tables to highlight complex clinical diagnostic and management guidelines. Presents a full-color design that includes clear illustrative examples of the relevant pathology and clinical issues, for quick access to the answers you need. Incorporates the codified WHO classification for all lymphomas and leukemias.