EconPapers    
Economics at your fingertips  
 

A Cognitive Approach to Law and Economics: Hayek’s Legacy

Angela Ambrosino ()

Department of Economic Policy, Finance and Development (DEPFID) University of Siena from Department of Economic Policy, Finance and Development (DEPFID), University of Siena

Abstract: Hayek’s contribution to the analysis of law has been widely criticized and disputed. This paper shares with a recent assessment by Beaulier, Boettke and Coyne the opinion that the significance of Hayek’s legal writings and their relevance to law and economics can only be completely understood by jointly analyzing his economic theory and his legal theory. Moreover it will be argued that both theories must be reconsidered in light of Hayek’s theory of mind. This theory, in fact, represents the key element in understanding Hayek’s thought in that it gives insight into the complexity of the cognitive and psychological determinants involved in coordination processes. The latter are the main phenomena that Hayek studied, and they are also essential for understanding the emergence of customs and social institutions as described in his legal theory. From this perspective, Hayek’s legal theory is of close relevance to current research in law. His contribution suggests a different methodological approach to developing legal theory in which the analysis of the micro-foundations of human behavior is of central importance. The paper argues that inquiry of this kind can contribute to legal theory by explaining perception in decision-making processes, and it may be the first essential step toward a normative legal theory that reduces errors in legal contexts like the one currently being sought by behavioral law and economics scholars.

Keywords: law and economics; congitive economics; neuroeconomics; Hayek; Posner. (search for similar items in EconPapers)
JEL-codes: B1 B40 B52 B53 D02 (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://repec.deps.unisi.it/depfid/text1310.pdf (application/pdf)

Related works:
Journal Article: A Cognitive Approach to Law and Economics: Hayek's Legacy (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:usi:depfid:1310

Access Statistics for this paper

More papers in Department of Economic Policy, Finance and Development (DEPFID) University of Siena from Department of Economic Policy, Finance and Development (DEPFID), University of Siena Contact information at EDIRC.
Bibliographic data for series maintained by Carlo Zappia ().

 
Page updated 2018-08-12
Handle: RePEc:usi:depfid:1310