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Loss Aversion And The Law, Eyal Zamir
Loss Aversion And The Law, Eyal Zamir
Vanderbilt Law Review
According to the rational choice theory of human behavior-the predominant theory in economics and an influential theory in other disciplines, including law-people strive to enhance their own well- being. Among the available options, they rationally choose the one that would maximize their expected utility, determined in absolute terms.