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May 31, 2026German Law JournalOpen Access

The Limits of Behavioral Law and Economics’ Predictive Power

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Authors

POPeter O'Loughlin

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Overview

This Article uncovers the limitations of behavioral economics’ predictive power in legal contexts, suggesting a need for a normative foundation.

Key Points

  • The article explores why behavioral economics struggles to predict irrational decision-making behaviors.
  • Distinguishes between endogenous and exogenous predictive powers.
  • Analyzes the theoretical limits of behavioral economics within the context of law.
  • Examines the relationship between behavioral economics and rational choice theory.
  • Identifies that behavioral economics lacks a normative foundation, limiting its predictive power.
  • Demonstrates that exogenous predictive approaches may conflict with general governance structures in law.
  • Clarifies how behavioral economics is seen as a residual aspect of rational choice theory.

Cite This Study

Peter O'Loughlin (2026) studied this question.

synapsesocial.com/papers/6a1bd1f65783ba022b6fd718https://doi.org/10.1017/glj.2026.10210
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