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Behavioral Economics And Poverty [En Español] Behavioral Economics Y Pobreza, Daniel A. Monroy

Daniel A Monroy C

No abstract provided.

The Homo [Not So] Economicus And The Law: A Critique Of Positive Theory Of Rational Choice In The Law [En Español], Daniel A. Monroy

Daniel A Monroy C

From the Behavioral Economics point of view, this paper presents a critic to one dimension of rational choice theory that is widely accepted by Law and Economics scholars. Our hypothesis is that (i) individuals deviate anomalously but predictably of normative assumption of rational choice. We suggests that, (ii) more than –unbounded– rational self interested individuals, in certain contexts, people tend to deviate from this normative behavior and also, tend to judge the behavior of other people, according to the consistency of these behaviors with a hypothetical situation commonly referred to as the "reference transaction".

Desde la perspectiva del Behavioral Economics, …

Teoría Prospectiva, Efecto Marco Y Los Mensajes De Disuasión De Consumo De Tabaco En Colombia, Daniel Monroy

Daniel A Monroy C

The main target of this reflex paper is to explain some ideas about behavioral economics, such as the Prospect Theory and the framing effect, as well as its possible implications for the law, especially in the context of tobacco control law in Colombia and the current package warning labels. The paper concludes that these warnings have the potential to reduce the tobacco consumption. However the effectiveness of these messages could be increased if the information is reframed in an alternative way.

This paper is based in other one called: "ANÁLISIS ECONÓMICO-CONDUCTUAL DE LA REGULACIÓN ANTITABACO EN COLOMBIA: El efecto marco …

Más Vale Malo Conocido Que…: El Efecto Dotación Y Los Pronósticos Teóricos Del Teorema De Coase, Daniel Monroy

Daniel A Monroy C

Some studies of the "endowment effect" in behavioral economics have criticized the theoretical prediction of the Coase Theorem even in its most basic formulation. This document describes the evidence of the existence of this "anomaly" in individual decision-making in various contexts in order to determine the possible general implications of this effect in the economic analysis itself especially as an explanation for the sometimes, insuperable gap between the willingness to accept for giving a right and the correlative willingness to pay to get it, also the paper describes a contradiction with the assumption of reversibility of preferences at any dot …

Regulaciones Que Nos Hacen Más Inteligentes, Daniel Monroy

Daniel A Monroy C

En presente artículo es una síntesis de algunas ideas puntuales relacionadas con las posibles consecuencias y retos que puede tener para el derecho la asunción de algunas ideas propias de la economía conductual, tal como la aceptación relativa a que los individuos muestran en su toma de decisiones, en ocasiones, una fuerza de voluntad limitada.

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

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 …

Justice Versus Benevolence: A Modern Humean View, Mario J. Rizzo

Mario Rizzo

This paper is an attempt to "update" and extend David Hume's moral psychology by demonstrating its consistency with the findings of construal level theory as recently developed by Trope, Liberman and others. Following Hume, justice is an abstract virtue the practice of which which does not give the individual positive psychological feedback in all cases. A single act of justice may be perceived as contrary to the public or private interest. It often takes a cognitive act of abstract construal to see and to appreciate the value of justice. Beneficence, on the other hand, is a concrete virtue. Its psychological …

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 …