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Moral Norms, Adaptive Preferences, and Hedonic Psychology

  • Jonathan S. Masur
Veröffentlicht/Copyright: 23. August 2021
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Abstract

In a series of important papers published roughly twenty years ago, Professor Robert Cooter developed a comprehensive economic theory of moral norms. He explained the value of those norms, described the process by which norms are adopted, and offered a set of predictions regarding the circumstances under which an individual will choose to adopt a particular moral norm. This brief Article applies behavioral law and economics and hedonic psychology to expand upon Professor Cooter’s path-breaking theory. In particular, understanding welfare in hedonic terms — rather than preference-satisfaction terms — suggests a multitude of further situations in which individuals will justifiably seek to internalize moral norms. The hedonic approach to welfare then further suggests an enhanced role for the government to play in encouraging the adoption of welfare-enhancing norms. Cooter’s theory, combined with modern understandings of welfare and human behavior, thus offers powerful predictive and prescriptive possibilities.


* John P. Wilson Professor of Law and David & Celia Hilliard Research Scholar, University of Chicago Law School. I thank Ira Ellman, Michael Gilbert, Saul Levmore, Ariel Porat, Rebecca Wexler, participants in the Conference in Honor of Bob Cooter, and the editors of Theoretical Inquiries in Law for helpful comments, and the David & Celia Hilliard Fund and the Wachtell, Lipton, Rosen & Katz Program in Behavioral Law, Finance & Economics for research support.


Published Online: 2021-08-23
Published in Print: 2021-07-27

© 2021 by Theoretical Inquiries in Law

Heruntergeladen am 23.9.2025 von https://www.degruyterbrill.com/document/doi/10.1515/til-2021-0016/html
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