CONTENTS Acknowledgments Contributors Introduction Francesco Parisi and Vernon Smith Part I Irrationality and Bounded Rationality in Law, Psychology and Economics Chapter 1 Departures from Rational Choice: With and Without Regret Robert Frank Chapter 2 Is the Mind Irrational or Ecologically Rational? Gerd Gigerenzer Chapter 3 Lessons from Neuroeconomics for the Law Kevin McCabe, Vernon Smith, and Terrence Chorvat Chapter 4 Treating Yourself Instrumentally: Internalization, Rationality and Law Robert Cooter Part II The Economics of Irrational Behavior Chapter 5 Addition, Choice and Irrationalit Ole Skog Chapter 6 Revenge and Retaliation Vincy Fon and Francesco Parisi Chapter 7 What Makes Trade Possible? Elizabeth Hoffman, Kevin McCabe, and Vernon Smith Chapter 8 Satisfaction and Learning: An Experimental Game to Measure Happiness Marco Novarese and Salvatore Rizzello, Chapter 9 The Market for Laughter F.H. Buckley Part III The Jurisprudence of Irrational Behavior: Rethinking Law as Behavioral Instrument Chapter 10 The Jurisprudence of Craziness Stephen Morse Chapter 11 On Law Enforcement with Boundedly Rational Actors Christine Jolls Chapter 12 The Biology of Irrationality: Crime and the Contingency of Deterrence Michael O'Neill Chapter 13 Analyzing Illicit Drug Markets When Dealers Act With Limited Rationality Jonathan Caukins and Robert J. MacCoun Chapter 14 On the Psychology of Punishment Cass Sunstein Chapter 15 Some Well-Aged Wines for the "New Norms" Bottles: Implications of Social Psychology for Law and Economics Yuval Feldman and Robert MacCoun Part IV Irrational Behavior and the Design of Law Chapter 16 Human Fallibility and the Forms of Law: The Case of Traffic Safety Thomas Ulen Chapter 17 The Free Radicals of Tort Mark Grady Chapter 18 Probability Errors: Some Positive and Normative Implications for Tort and Contract Law Eric Posner Chapter 19 Threatening an Irrational Breach of Contract Oren Bar-Gill and Omri Ben-Shahar Chapter 20 Regulating Irrational Exuberance and Anxiety in Securities Markets Peter Huang Chapter 21 In Praise of Investor Irrationality Jeffrey Rachlinski and Gregory LeBlanc Index
Francesco Parisi is Professor of Law and Director, Law and Economics Program, George Mason University School of Law. He is co-editor of The Law and Economics of the European Union (2003), Economic Foundations of Private Law (2002), and Law and Economics (1997). Vernon L. Smith is Nobel Laureate in Economics, 2002, and Professor of Economics and Law, George Mason University.
"Progressive law scholars will want to read this lively, wide-ranging, and fun collection. The impressive cast of contributors keeps a clear eye on how law can be informed by formal models of limits on rationality." - Colin F. Camerer,Axline Professor of Business Economics, California Institute of Technology
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