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This edited volume covers the challenges currently faced by consumer law in Europe and the United States, ranging from fundamental theoretical questions, such as what goals consumer law should pursue, to practical questions raised by disclosure requirements, the General Data Protection Regulation and technology advancements. With governments around the world enacting powerful new regulations concerning consumers, consumer law has become an important topic in the economic analysis of law. Intended to protect consumers, these regulations typically seek to do so by giving them tools to make better decisions, or by limiting the consequences of their bad decisions. Legal scholars are divided, however, regarding the efficacy and effects of these regulations; some call for certain policies to be abolished, while others support a regulatory expansion.
This anthology highlights the theoretical foundations as well as the various applications of Behavioural Law and Economics in European legal culture. By the same token, it fosters the dialogue between European and American Law and Economics scholars. The traditional neo-classical microeconomic theory explains human behaviour by using Rational Choice. According to this model, people tend to maximize the difference between expected utility and cost (“expected utility theory”). This theory includes three assumptions: (1) unbounded rationality, (2) unbounded self-interest, and (3) unbounded willpower. Behavioural Economics questions these assumptions and endeavours to render economic analysi...
This anthology provides an in-depth analysis and discusses the issues surrounding nudging and its use in legislation, regulation, and policy making more generally. The 17 essays in this anthology provide startling insights into the multifaceted debate surrounding the use of nudges in European Law and Economics. Nudging is a tool aimed at altering people’s behaviour in a predictable way without forbidding any option or significantly changing economic incentives. It can be used to help people make better decisions to influence human behaviour without forcing them because they can opt out. Its use has sparked lively debates in academia as well as in the public sphere. This book explores who d...
This book explores current issues regarding the regulation of various economic sectors, theoretically and empirically, discussing both neoclassical and behavioural economics approaches to regulation. Regulation has become one of the main determinants of modern economies, and virtually every sector is subject to general laws and regulations as well as specific rules and standards. A traditional argument to justify regulatory interventions is the promotion of public interests. Fixing markets that lack competition, balancing information asymmetries, internalising externalities, mitigating systemic risks, and protecting consumers from irrational behaviour are frequently invoked to complement the...
Predicting the future is serious business for virtually all public and private institutions, for they must often make important decisions based upon such predictions. This text explores how institutions might improve their predictions and arrive at better decisions by means of prediction markets.
The marriage of computers and telecommunications, the global integration of these technologies and their availability at low cost is bringing about a fundamental transformation in the way humans communicate and interact. But however much consensus there may be on the growing importance of information technology today, agreement is far more elusive when it comes to pinning down the impact of this development on security issues. Written by scholars in international relations, this volume focuses on the role of the state in defending against cyber threats and in securing the information age. The manuscript is captivating with the significance and actuality of the issues discussed and the logical, knowledgeable and engaged presentation of the issues. The essays intrigue and provoke with a number of 'fresh' hypotheses, observations and suggestions, and they contribute to mapping the diverse layers, actors, approaches and policies of the cyber security realm.
This book further develops both the traditional and the behavioural approach to competition law, and applies these approaches to a variety of timely issues. It discusses several fundamental questions regarding competition law and economics, and explores the applications of competition law and economics. In turn, the book analyses the interplay of intellectual property rights and patents in various aspects of competition law, and investigates the impacts that developments in information technology, such as big data analytics, have on competition law. The book also discusses the impact of energy law reforms on energy markets from a competition law perspective. Competition law is a classic fiel...
This book brings together a large and diverse collection of philosophical papers addressing a wide variety of public policy issues. Topics covered range from long-standing subjects of debate such as abortion, punishment, and freedom of expression, to more recent controversies such as those over gene editing, military drones, and statues honoring Confederate soldiers. Part I focuses on the criminal justice system, including issues that arise before, during, and after criminal trials. Part II covers matters of national defense and sovereignty, including chapters on military ethics, terrorism, and immigration. Part III, which explores political participation, manipulation, and standing, include...
Facts and Norms in Law: Interdisciplinary Reflections on Legal Method presents an innovative collection of essays on the relationship between descriptive and normative elements in legal inquiry and legal practice. What role does empirical data play in law? New insights in philosophy, the social sciences and the humanities have forced the relationship between facts and norms on to the agenda, especially for legal scholars doing interdisciplinary work. This timely volume carefully combines critical perspectives from a range of different disciplinary traditions and theoretical positions.
Consumer law is worthy of greater academic attention at a time when many new questions arise and old ones need new answers. This unique handbook takes the reader on a journey through existing literature, research questions and methods. It builds on the state of the art to offer a springboard for jumping to the heart of contemporary issues and equips researchers with a starter’s kit to weave together rich traditions, ranging from socio-economics to behavioural analysis.