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Social and Behavioral Sciences Commons

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Law and Economics

SelectedWorks

Mario Rizzo

Articles 1 - 6 of 6

Full-Text Articles in Social and Behavioral Sciences

Little Brother Is Watching You: New Paternalism On The Slippery Slopes, Mario J. Rizzo Jan 2009

Little Brother Is Watching You: New Paternalism On The Slippery Slopes, Mario J. Rizzo

Mario Rizzo

The “new paternalism” claims that careful policy interventions can help people make better decisions in terms of their own welfare, with only mild or nonexistent infringement of personal autonomy and choice. This claim to moderation is not sustainable. Applying the insights of the modern literature on slippery slopes to new paternalist policies suggests that such policies are particularly vulnerable to expansion. This is true even if policymakers are fully rational. More importantly, the slippery-slope potential is especially great if policymakers are not fully rational, but instead share the behavioral and cognitive biases attributed to the people their policies are supposed ...


The Knowledge Problem Of The New Paternalism, Mario J. Rizzo Jan 2009

The Knowledge Problem Of The New Paternalism, Mario J. Rizzo

Mario Rizzo

The “new paternalism” is a set of policy prescriptions based on recent findings in behavioral economics whose purpose is to help individuals overcome a wide variety of behavior and cognitive biases. According to its proponents, it does not aim at replacing the preferences of individuals with those of the paternalist but rather to uncover the “true” preferences of individuals, that is, the preferences they would have if they had perfect knowledge, unlimited cognitive abilities and no lack of willpower. The purpose of this Article is to show that new paternalist policies founder on the shoals of a profound knowledge problem ...


Paternalist Slopes, Glen Whitman, Mario J. Rizzo Jan 2007

Paternalist Slopes, Glen Whitman, Mario J. Rizzo

Mario Rizzo

A growing literature in law and public policy harnesses research in behavioral economics to justify a new form of paternalism. Contributors to this literature typically emphasize the modest, non-intrusive character of their proposals. A distinct literature in law and public policy analyzes the validity of “slippery slope” arguments. Contributors to this literature have identified various mechanisms and processes by which slippery slopes operate, as well as the circumstances in which the threat of such slopes is greatest. The present article sits at the nexus of the new paternalist literature and the slippery slopes literature. We argue that the new paternalism ...


Causal Apportionment: A Reply To The Critics, Mario Rizzo Jan 1986

Causal Apportionment: A Reply To The Critics, Mario Rizzo

Mario Rizzo

This article follows-up on the theory of apportionment by relative causal contribution developed in the Columbia Law Review. It is an answer to criticism by statisticians.


A Theory Of Economic Loss In The Law Of Torts, Mario Rizzo Jun 1982

A Theory Of Economic Loss In The Law Of Torts, Mario Rizzo

Mario Rizzo

This article contains a general theory that explains why pure economic loss ( that is, financial loss not associated with physical harm to the person or property of the plaintiff) is not to be recoverable at times and is recoverable at other times. The theory stresses the importance in the law of reducing contracting costs while still providing incentives to avoid true social costs.


Causal Apportionment In The Law Of Torts, Mario Rizzo Oct 1980

Causal Apportionment In The Law Of Torts, Mario Rizzo

Mario Rizzo

This article presents a theory and a technology of damage apportionment (in cases of joint, concurrent or successive torts) based on relative causal contributions. While the theory is developed along the lines of strict liability, it is also applicable, mutatis mutandis, to a negligence framework.