If You Can’t Beat Them, Join Them: Richard Posner and Behavioral Law and Economics

History of Economic Ideas

8 Pages Posted: 8 May 2023

See all articles by Doron Teichman

Doron Teichman

Hebrew University of Jerusalem - Faculty of Law

Avishalom Tor

Notre Dame Law School

Eyal Zamir

Hebrew University of Jerusalem - Faculty of Law

Date Written: April 26, 2023

Abstract

Since its publication in 1973, Economic Analysis of Law (the Treatise) by Richard Posner has been recognized as the canonical treatise in the field. Given this status, observing changes over time in the different editions of the book can highlight substantial and methodological shifts in the area. On this backdrop, this brief essay highlights Posner’s change of attitude towards behavioral analysis of law over the years, culminating with the incorporation of behavioral insights into the last edition of his book, published in 2014.


The essay is forthcoming in a special issue of History of Economic Ideas, on the occasion of 50 years since the publication of the first edition of Posner's book Economic Analysis of Law

Keywords: Richard Posner, Law and Economics, Behavioral Law and Economics, Economic Rationality, Judgement and Decision-making

JEL Classification: B2, B21, B31, B41, D01, D03, K00, K1

Suggested Citation

Teichman, Doron and Tor, Avishalom and Zamir, Eyal, If You Can’t Beat Them, Join Them: Richard Posner and Behavioral Law and Economics (April 26, 2023). History of Economic Ideas, Available at SSRN: https://ssrn.com/abstract=4430182

Doron Teichman (Contact Author)

Hebrew University of Jerusalem - Faculty of Law ( email )

Mount Scopus
Mount Scopus, IL 91905
Israel

Avishalom Tor

Notre Dame Law School ( email )

P.O. Box 780
Notre Dame, IN 46556-0780
United States

Eyal Zamir

Hebrew University of Jerusalem - Faculty of Law ( email )

Mount Scopus
Mount Scopus, IL 91905
Israel
+972 2 582 3845 (Phone)
+972 2 582 9002 (Fax)

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