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Theories of Choice – The Social Science and the Law of Decision Making - Oxford Scholarship Online
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Theories of Choice: The Social Science and the Law of Decision Making

Stefan Grundmann and Philipp Hacker

Abstract

Choice is a key concept of our time. It is a foundational mechanism for every legal order in societies that are, politically, constituted as democracies and, economically, built on the market mechanism. Thus, choice can be understood as an atomic structure that grounds core societal processes. In recent years, however, the debate over the right way to theorise choice—for example, as a rational or a behavioural type of decision making—has intensified. This collection therefore provides an in-depth discussion of the promises and perils of specific types of theories of choice. It shows how the se ... More

Keywords: legal theory, rational choice, law and economics, behavioural law and economics, choice, organisation, markets, firms, networks, contracts, empirical legal studies, machine learning, digital economy

Bibliographic Information

Print publication date: 2021 Print ISBN-13: 9780198863175
Published to Oxford Scholarship Online: February 2021 DOI:10.1093/oso/9780198863175.001.0001

Authors

Affiliations are at time of print publication.

Stefan Grundmann, editor
Chair for Civil Law, German, European and International Private Law, Humboldt University of Berlin

Philipp Hacker, editor
Chair for Law and Ethics of the Digital Society, European University Viadrina

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Contents

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Theories of Choice and the Law—An Introduction

Stefan Grundmann and Philipp Hacker

Part I Foundations

3 Game Theory and the Law

Marlies Ahlert

Part II Individual Choice and the Law

4 Most People Like Nudges—and Why that Matters

Lucia A. Reisch, Cass R. Sunstein, and Micha Kaiser1

Part III Collective Choice and the Law

7 Itinera Europea

Adrienne Héritier1

9 Collective Intelligence

Andreas Engert

Part IV Organisational Choice and the Law

A. Firms

11 Institutional Investor Voting Behaviour

Luca Enriques and Alessandro Romano1

B. Institutions, Networks, and Courts

14 The Power of Sequence

Christopher Brett Jaeger and Jennifer S. Trueblood

End Matter