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Introduction to Behavioral Law and Economics

This course will explore the basic concepts of the rational-choice framework in economics and then analyze how individuals deviate from the standard assumptions economists make regarding human behavior. Combining empirical and experimental results from both psychology and economics, students will examine the roles that bounded rationality, willpower, and self-interest play in law and economics, and the legal system more broadly, and the consequences of these three departures from neoclassical economics. No previous background in economics is required.