Document Type : Original Article
Authors
1 (Assistant Professor of Law, Shahid Beheshti University)
2 ( LLM in Economic Law,Shahid Beheshti University)
Abstract
Law is a behavioral system that seeks to shape human behavior. Behavioral economics combines economics and cognitive psychology and produces research results indicating, in general, that individuals’ choices in various decision-making circumstances may depart from what traditional neoclassical economics predicts due to different psychological biases.This research seeks to address the applications and challenges of behavioral law and economics through introducing behavioral economics and its place in law and economics using the documentary method. Then it presents a broad vision of how increased attention to insights about actual human behavior may improve economic analysis of law.
Behavioral law and economics, due to its attention to the actual behavior of people, claims that it also provides more realistic results and more appropriate solutions that can be used as powerful tools by lawyers, legislators, judges, policymakers, and other stakeholders to regulate the behavior of the people, and along with good governance, bring society closer to the collective good. On the contrary, its critics have challenged the methodology of this field, expressing remarkable doubts about its application in legal policymaking.
Keywords
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