Open Access. Powered by Scholars. Published by Universities.®
- Institution
Articles 1 - 3 of 3
Full-Text Articles in Law
Behavioral Public Choice And The Law, Gary M. Lucas Jr., Slaviša Tasić
Behavioral Public Choice And The Law, Gary M. Lucas Jr., Slaviša Tasić
Faculty Scholarship
Behavioral public choice is the study of irrationality among political actors. In this context, irrationality means systematic bias, a deviation from rational expectations, or other departure from economists’ conception of rationality. Behavioral public choice scholars extend the insights of behavioral economics to the political realm and show that irrational behavior is an important source of government failure. This Article makes an original contribution to the legal literature by systematically reviewing the findings of behavioral public choice and explaining their implications for the law and legal institutions. We discuss the various biases and heuristics that lead political actors to support and …
Price And Pretense In The Baby Market, Kimberly D. Krawiec
Price And Pretense In The Baby Market, Kimberly D. Krawiec
Faculty Scholarship
Throughout the world, baby selling is formally prohibited. And throughout the world babies are bought and sold each day. As demonstrated in this Essay, the legal baby trade is a global market in which prospective parents pay, scores of intermediaries profit, and the demand for children is clearly differentiated by age, race, special needs, and other consumer preferences, with prices ranging from zero to over one hundred thousand dollars. Yet legal regimes and policymakers around the world pretend that the baby market does not exist, most notably through prohibitions against “baby selling” – typically defined as a prohibition against the …
Beyond Efficiency And Procedure: A Welfarist Theory Of Regulation, Matthew D. Adler
Beyond Efficiency And Procedure: A Welfarist Theory Of Regulation, Matthew D. Adler
Faculty Scholarship
Normative scholarship about regulation has been dominated by two types of theories, which I term "Neoclassical" and "Proceduralist." A Neoclassical theory has the following features: it adopts a simple preference-based view of well-being, and it counts Kaldor-Hicks efficiency as one of the basic normative criteria relevant to the evaluation of regulatory programs. A Proceduralist theory is concerned, not solely with the quality of regulatory outcomes, but also with the governmental procedures that produce these outcomes: it gives intrinsic significance to the procedures that regulatory bodies follow. (One example of a Proceduralist theory is the civic republican theory of regulation advanced …