How the behavioural turn in law and economics vindicates the New Haven School
Title: How the behavioural turn in law and economics vindicates the New Haven School
Author: ESPOSITO, Fabrizio
Citation: Oeconomia, 2017, Vol. 7, No. 3, pp. 375-406
ISSN: 2113-5207; 2269-8450
External link: http://oeconomia.revues.org/2756
This article claims that the behavioural turn in Law and Economics vindicates the approach of the pre-turn New Haven School. Available accounts of the turn offer useful methodological insights but are unconvincing, because they tend to oversimplify the literature. Building on these insights, the pre- and post-turn literature are reviewed. In so doing, three levels of analysis—normative, descriptive, and prescriptive— are distinguished. Comparing the two strands of literature shows that some pre-turn positions are more in accord with the post-turn literature than others. Importantly, the approach of the Chicago School— mainstream in the pre-turn literature—has been deeply influenced by the turn, whereas the one of the New Haven School—then subjacent—is substantially compatible with the post-turn mainstream positions. It follows, then, that the turn vindicates, at least theoretically, the approach of the New Haven School.
Published online: 1 September 2017; Les contenus d’Œconomia sont mis à disposition selon les termes de la Licence Creative Commons Attribution - Pas d'Utilisation Commerciale - Pas de Modification 4.0 International.
Type of Access: openAccess
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