Amos Tversky's contributions to legal scholarship
Together with his long-time colleague Daniel Kahneman, Amos Tversky, provided the intellectual infrastructure for contemporary behavioral law and economics. Prospect theory undermines the Coase Theorem, which is the bedrock of traditional law and economics; and the heuristics and biases research que...
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| Format: | Article |
| Language: | English |
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Cambridge University Press
2006-11-01
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| Series: | Judgment and Decision Making |
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| Online Access: | http://journal.sjdm.org/jdm06125.pdf |
| Summary: | Together with his long-time colleague Daniel Kahneman, Amos Tversky, provided the intellectual infrastructure for contemporary behavioral law and economics. Prospect theory undermines the Coase Theorem, which is the bedrock of traditional law and economics; and the heuristics and biases research questions the fundamental idea of a rational self-interested decisionmaker, which is also challenged by subsequent studies of the role of affect in judgment and decisionmaking. |
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| ISSN: | 1930-2975 |