Behavioral Economics and Consumer Protection and Competition Law: A Judicial Perspective
AbstractNeoclassical economics or “price theory” has had a profound effect upon antitrust analysis, first as practiced in academia and then as reflected in the jurisprudence of the Supreme Court of the United States. More recently, behavioral economics has had a large and growing influence upon legal scholarship generally. Still, behavioral economics has not yet affected judicial decisions in the United States in any substantive area of law. The question we address is whether that is likely to change in the foreseeable future, i.e., whether the courts’ present embrace of price theory in antitrust cases portends the courts’ imminent acceptance of behavioral economics in either antitrust or consumer protection cases.
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Bibliographic InfoPaper provided by Regulation2point0 in its series Working paper with number 598.
Date of creation: Apr 2010
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