Taming the Animal Spirits of the Stock Markets: A Behavioral Approach to Securities Regulation
Donald C. Langevoort
Georgetown University Law Center
Northwestern University Law Review, Forthcoming
Recent advances in behavioral finance and economics have offered fascinating, albeit tentative, suggestions that may be useful to securities law policy-makers, especially in the aftermath of Enron and similar scandals. Because of the tentative nature of the findings, however, strong incorporation seems premature. After reviewing some of the literature, I look at three different problem areas - internet fraud, selective disclosure and the measurement of damages in class actions - where this literature might at least provoke creative ideas on how to respond, even if it doesn't generate a clear-cut solution.
Number of Pages in PDF File: 71Accepted Paper Series
Date posted: July 15, 2002
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