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Behavioral Economics and Court Decision-Making

  • Doron Teichman EMAIL logo und Eyal Zamir
Veröffentlicht/Copyright: 24. November 2021
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Abstract

The economic analysis of law assumes that court decisions are key to incentivizing people and maximizing social welfare. This article reviews the behavioral literature on court decision making, and highlights numerous heuristics and biases that impact judges and jurors and cause them to make decisions that diverge from the social optimum. In light of this review, the article analyzes some of the institutional features of the court system that may help minimize the costs of biased decisions in the courts.

JEL Classification: K00; K41

Corresponding author: Doron Teichman, The Hebrew University of Jerusalem Faculty of Law, Jerusalem 9190501, Israel, E-mail:

Acknowledgments

Doron Teichman is Jacob I. Berman Professor of Law at the Faculty of Law of the Hebrew University of Jerusalem. Eyal Zamir is Augusto Levi Professor of Commercial Law at the Faculty of Law of the Hebrew University of Jerusalem. The authors contributed equally and are listed in alphabetical order. We thank Chaggay Yakobi for excellent research assistance. This research was supported by the Israel Science Foundation (Grant No. 1372/20).

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