An Intro to Behavioural Law & Economics, or Law & Economics 2.0

The last lecture of the course on Economic Analysis of Law I have taught this year at the University of Bristol Law School, concentrated on behavioural economics and the way it has pushed for the emergence of a law and economics 2.0.

Preparing for the lecture gave me the opportunity to re-read the seminal paper by Jolls, Sunstein & Thaler's A Behavioural Approach to Law and Economics,  Thaler & Sunstein's Nudge, and to read for the first time Thaler's Misbehaving, as well as adding Lewis' The Undoing Project to my "to read list" for the Easter vacation. I thoroughly enjoyed revisiting this area of the literature and I think my students enjoyed it (even) more than the rest of the course. Mental note: I should expand the scope of the discussion of law & economics 2.0 next year.

These are the slides I used, which spurred significant discussion with my students, and which have set the scene for the last round of seminars where we will be discussing these and other issues. Feel free to reuse them.