Social and Behavioral Sciences Commons^™

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 …

Making Sense Of The New Financial Deal, David A. Skeel Jr.

All Faculty Scholarship

In this Essay, I assess the enactment and implications of the Dodd-Frank Act, Congress’s response to the 2008 financial crisis. To set the stage, I begin by very briefly reviewing the causes of the crisis. I then argue that the legislation has two very clear objectives. The first is to limit the risk of the shadow banking system by more carefully regulating the key instruments and institutions of contemporary finance. The second objective is to limit the damage in the event one of these giant institutions fails. While the new regulation of the instruments of contemporary finance—including clearing and exchange …

A Cost-Benefit Interpretation Of The "Substantially Similar" Hurdle In The Congressional Review Act: Can Osha Ever Utter The E-Word (Ergonomics) Again?, Adam M. Finkel, Jason W. Sullivan

All Faculty Scholarship

The Congressional Review Act permits Congress to veto proposed regulations via a joint resolution, and prohibits an agency from reissuing a rule “in substantially the same form” as the vetoed rule. Some scholars—and officials within the agencies themselves—have understood the “substantially the same” standard to bar an agency from regulating in the same substantive area covered by a vetoed rule. Courts have not yet provided an authoritative interpretation of the standard.

This Article examines a spectrum of possible understandings of the standard, and relates them to the legislative history (of both the Congressional Review Act itself and the congressional veto …

How Much Does A Belief Cost?: Revisiting The Marketplace Of Ideas, Gregory Brazeal

Gregory Brazeal

Justice Oliver Wendell Holmes, Jr. is often credited with creating the metaphor of “the marketplace of ideas,” though he did not use the exact phrase and his argument for free speech was not based on distinctively economic reasoning. Truly economic investigations of the marketplace of ideas have progressed in step with developments and trends in the law and economics literature. These investigations have tended to be one-sided, with writers focusing primarily either on the production of ideas (for example, Posner) or their consumption (for example, behavioral law and economics), without considering in depth how producers and consumers interact. This may …