Amos Tversky’s contributions to legal scholarship: Remarks at the BDRM session in honor of Amos Tversky, June 16, 2006

Paul Brest

Judgment and Decision Making, 2006, vol. 1, issue 2, 174-178

Abstract: Together with his long-time colleague Daniel Kahneman, Amos Tversky, provided the intellectual infrastructure for contemporary behavioral law and economics. Prospect theory undermines the Coase Theorem, which is the bedrock of traditional law and economics; and the heuristics and biases research questions the fundamental idea of a rational self-interested decisionmaker, which is also challenged by subsequent studies of the role of affect in judgment and decisionmaking.

Date: 2006
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