The market for legal services, and particularly lawyers' Contingent Fee (CF) arrangements, have been extensively studied from legal, economic and sociological standpoints, but curiously not from a behavioral perspective. Building on Kahneman and Tversky's Prospect Theory, this paper presents a...

In soccer penalty kicks, goalkeepers choose their action before they can clearly observe the kick direction. An analysis of 286 penalty kicks in top leagues and championships worldwide shows that given the probability distribution of kick direction, the optimal strategy for goalkeepers is to...

Economic analysis, and economic analysis of law in particular, ordinarily assumes that paternalism and efficiency are incompatible bases for analyzing and evaluating rules and actions. Most economists reject paternalism as inefficient. By appealing to the theoretical foundations of normative...

Public choice theory (PCT) has had a powerful influence on political science and, to a lesser extent, on public administration. Based on the premise that public officials are rational maximizers of their own utility, PCT has a quite successful record of correctly predicting governmental...

This is a chapter of our book titled Law, Economics, and Morality (OUP, 2010), in which we propose to integrate threshold deontological constraints (and options) with cost-benefit analysis, thus combining economic methodology with moderate (threshold) deontological morality. This chapter...

This is a draft entry for the Encyclopedia of the Philosophy of Law and Social Philosophy. It provides a bird's-eye view of behavioral economics, its impact on legal theory and policy, its implications, and the critique leveled against it