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Pricing Legal Options: A Behavioral Perspective

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Author Info
Oren Bar-Gill (NYU Law School)
Abstract

Many legal rules can be interpreted as creating options. Option pricing is thus important for understanding the ex ante effects of these rules. And, recognizing that individuals, whose behavior the law aims to influence, are imperfectly rational, a behavioral option pricing model is a potentially helpful tool for legal policy. This paper develops such a model and applies it to a series of legal problems in tort law, contract law, corporate law and criminal law.

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File URL: http://www.bepress.com/cgi/viewcontent.cgi?article=1016&context=rle
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Publisher Info
Article provided by Berkeley Electronic Press in its journal Review of Law & Economics.

Volume (Year): 1 (2007)
Issue (Month): 2 ()
Pages: 2
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Handle: RePEc:bep:rlecon:1:2007:2:2

Note: oai:bepress.com:rle-1016
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Related research
Keywords: Options behavioral law and economics optimism overconfidence

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This page was last updated on 2008-8-24.

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