- Series Information
- The Oxford Handbook of Behavioral Economics and the Law
- Heuristics and Biases
- Human Prosocial Motivation and the Maintenance of Social Order
- Moral Judgment
- The Importance of Behavioral Law
- Behavioral Law and Economics: Empirical Methods
- Biasing, Debiasing, and the Law
- Alternative Behavioral Law and Economics
- Law and Prosocial Behavior
- Behavioral Ethics Meets Behavioral Law and Economics
- Law, Moral Attitudes, and Behavioral Change
- Law’s Loss Aversion
- Wrestling with the Endowment Effect, or How to Do Law and Economics without the Coase Theorem
- Probability Errors: Overoptimism, Ambiguity Aversion, and the Certainty Effect
- The Hindsight Bias and the Law in Hindsight
- Behavioral Law and Economics of Property Law: Achievements and Challenges
- Behavioral Economics and Tort Law
- Behavioral Economics and Contract Law
- Consumer Transactions
- Behavioral Economics and Insurance Law: The Importance of Equilibrium Analysis
- The End of Contractarianism?: Behavioral Economics and the Law of Corporations
- The Market, the Firm, and Behavioral Antitrust
- Behavioral Analysis of Criminal Law: A Survey
- Behavioral Economics and the Law: Tax
- Litigation and Settlement
- Behavioral Economics and Plea Bargaining
- Judicial Decision-Making: A Behavioral Perspective
- Evidence Law
- Nudges.gov: Behaviorally Informed Regulation
- Environmental Law
- Index of Names
- Subject Index
Abstract and Keywords
In this chapter, we build on the existing literature on the use of legal strategies for addressing problems of biased judgment and behavior, exploring how heuristics and biases may be exploited to foster efficiency in the presence of other incentive alignment problems. We also introduce two new categories: the hitherto unnoticed counterparts to debiasing and insulating strategies, which we will call “benevolent biasing,” and “cognitive leveraging” strategies.
Daniel Pi is an Erasmus Mundus Fellow and Ph.D. candidate in the European Doctorate in Law and Economics at the University of Bologna, University of Hamburg, and Erasmus University Rotterdam.
Francesco Parisi is Oppenheimer Wolff and Donnelly Professor of Law at the University of Minnesota Law School and Professor of Economics at the University of Bologna.
Barbara Luppi is Assistant Professor in Political Economics at the University of Modena and Reggio Emilia and Visiting Professor at the University of St. Thomas School of Law.
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