Behavioral Law and Economics (Teichman)
Meeting Times/Location
MW 10:30AM - 12:30PM
Silverman Hall 147
Category
Upper-Level
Credits
1.0
The economic analysis of law has dominated 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 in the areas of property, contracts and torts, and then explore how the conclusions of this analysis are altered when behavioral insights are incorporated into it.
Perspectives on the Law Learning outcomes: Demonstrate an understanding of how the law affects, and is affected by, the individual course topic; Perform legal analysis in the context of the individual course topic; Communicate effectively on the legal and other aspects of the individual course topic; Demonstrate the ability to use other disciplines to analyze legal issues relevant to the individual course topic, including economics, philosophy, and sociology, as appropriate.