Law, Psychology, and Morality

Eyal Zamir is the Augusto Levi Professor of Commercial Law at the Hebrew University, where he served as Dean of the Faculty of Law from 2002 to 2005. He has been a visiting researcher or visiting professor at the law schools of Harvard, Yale, NYU, Georgetown, UCLA, and Zurich. He holds an LL.B. and Dr.Jur. from the Hebrew University of Jerusalem. Professor Zamir has authored or edited thirteen books and published some fifty articles in Israeli and American law journals, including the Columbia Law Review, the Journal of Legal Studies, California Law Review, Virginia Law Review, and the American Journal of International Law. He is co-author with Barak Medina of: Law, Economics, and Morality (Oxford University Press, 2010).

Acknowledgments ; Introduction ; Part I: The Psychology of Loss Aversion ; Chapter 1. Loss Aversion: An Overview ; A. Introduction ; B. A Brief History ; C. Prospect Theory ; D. Reference Points ; E. Alternative Theories, Limitations, and Critique ; F. Empirical Studies ; G. Loss Aversion and Emotions ; H. Related Phenomena ; I. Professional Decisionmaking ; J. Group Decisionmaking ; K. Debiasing Loss Aversion? ; L. Evolutionary Roots and Neural Basis ; M. Impact on Other Disciplines ; N. Conclusion ; Part II: Understanding Human Behavior in Legal Contexts ; Chapter 2. Consumer Behavior ; A. Introduction ; B. Framing Prices and Other Attributes ; C. Limited Availability ; D. Escalation of Commitment ; E. Lenient Return Policies and the Endowment Effect ; F. Status Quo and Omission Biases ; G. Conclusion Impact on Other Disciplines ; Chapter 3. The Market for Legal Services: Contingent Fees ; A. Introduction ; B. The Puzzle ; C. Loss Aversion and Plaintiffs' Preferences ; D. Loss Aversion and Defendants' Preferences ; E. Conclusion ; Chapter 4. Litigation and Settlement ; A. Introduction ; B. Standard Economic Analysis ; C. Framing Litigation Outcomes and Risk Attitude ; D. Settlement, Regret, and Loss Aversion ; E. Default Effect and Alternative Dispute Resolution ; F. A Note on Plea Bargains ; G. Conclusion ; Part III: Framing by the Law ; Chapter 5. Legally Induced Reference Points ; A. Introduction ; B. Default Rules ; C. Burden of Persuasion ; D. Legal Reforms and Temporary Legislation ; E. Conclusion ; Part IV: Loss Aversion and Basic Features of the Law ; Chapter 6. Correspondence between Loss Aversion and the Law ; A. Introduction ; B. Private Law: Tort vs. Unjust Enrichment ; C. Contract Remedies: Expectation vs. Disgorgement ; D. Constitutional Property Law: Takings vs. Givings ; E. Criminal Law: Necessity and Bad Samaritan Laws ; F. Human Rights: Civil and Political vs. Social and Economic ; G. Civil Rights: Affirmative Action ; H. Refugee and Immigration: Denying Entrance vs. Expelling ; I. Tax Law: Tax Exemptions and Tax Withholding ; J. Evidence Law: Burden of Proof in Civil Litigation ; K. Civil Procedure: Preliminary Injunctions ; L. Conclusion ; Chapter 7. Evolutionary Theories ; A. Introduction ; B. Efficiency-of-the-Common-Law Theories ; C. Loss Aversion and the Plaintiffs' Role ; D. Assessment and Conclusion ; Chapter 8. Cognitive Psychology, Commonsense Morality, and the Law ; A. Introduction ; B. Deontology ; C. Moderate Deontology and Commonsense Morality ; D. Deontology, Commonsense Morality, and Loss Aversion ; E. Commonsense Morality and Law ; F. Moral and Evolutionary Psychology ; G. Conclusion ; Part V: Normative Analysis ; Chapter 9. Loss Aversion: Normative Implications ; A. Introduction ; B. Preliminary Issues ; C. Justifying Basic Features of Extant Law ; D. Legal Policymaking ; E. Legal Decisionmakers' Loss Aversion ; F. Conclusion ; Conclusion ; Index