In the past decade, behavioral economics has established itself as a contender to the throne of neoclassical economics in the economic analysis of law. The pros and cons of behavioral as compared to neoclassical economics have been vigorously debated at the general, methodology level. But the success or failure of the behavioral challenge will be judged by its ability to improve upon neoclassical economics—both descriptively and prescriptively—in specific legal applications. Consumer contracts provide an important test case for behavioral economics. In this Exchange, we offer the first comprehensive debate between the behavioral and neoclassical perspectives as applied to the law and economics of consumer contracts.
Volume 92 - No. 3
- Note: Stranger than Science Fiction: The Rise of A.I. Interrogation in the Dawn of Autonomous Robots and the Need for an Additional Protocol to the U.N. Convention Against Torture
- SIRI-OUSLY 2.0: What Artificial Intelligence Reveals About the First Amendment
- The Consequences of Disparate Policing: Evaluating Stop and Frisk as a Modality of Urban Policing
- Regulating Cumulative Risk
- Toward a Critical Race Theory of Evidence
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