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Articles 1 - 2 of 2
Full-Text Articles in Law
The Promise (And Limits) Of Neuroeconomics, Jedediah S. Purdy
The Promise (And Limits) Of Neuroeconomics, Jedediah S. Purdy
Faculty Scholarship
Neuroeconomics — the study of brain activity in people engaged in tasks of reasoning and choice — looks set to be the next behavioral economics: a set of findings about how people make decisions that casts both light and doubt on widely accepted premises about rationality and social life. This Article explains what is most exciting about the new field and lays out some specific research tasks for it.
Legal Ground Rules In Coordinated And Liberal Market Economies, Katharina Pistor
Legal Ground Rules In Coordinated And Liberal Market Economies, Katharina Pistor
Faculty Scholarship
This chapter seeks to explain the affinity between the nature of economic systems: coordinated market economies (CMEs) and liberal market economies (LMEs) on the one hand, and legal origin (civil vs common law systems) on the other. It starts with the simple observation that LMEs tend to be common law jurisdictions, and CMEs civil law jurisdictions. It proposes that the affinity between economic and legal system offers important insights into the foundations of different types of market economies and, in particular, differences in the scope of the state vs the powers of the individual. The main argument is that the …