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Author Zamir, Eyal

Title Law, psychology, and morality : the role of loss aversion / Eyal Zamir
Published New York : Oxford University Press, 2014


Description 1 online resource
Contents Loss aversion : an overview -- Consumer behavior -- The market for legal services : contingent fees -- Litigation and settlement -- Legally induced reference points -- Correspondence between loss aversion and the law -- Evolutionary theories -- Cognitive psychology, commonsense morality, and the law -- Loss aversion : normative implications
Summary Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to such phenomena as the status quo and omission biases, the endowment effect, and escalation of commitment. The book systematically analyzes the relationships between loss aversion and the law
Bibliography Includes bibliographical references and index
Subject Law and economics.
Economics -- Psychological aspects.
Actions and defenses -- Psychological aspects
Loss aversion.
Cognitive psychology.
LAW -- Essays.
LAW -- General Practice.
LAW -- Jurisprudence.
LAW -- Paralegals & Paralegalism.
LAW -- Practical Guides.
LAW -- Reference.
Actions and defenses -- Psychological aspects
Cognitive psychology
Economics -- Psychological aspects
Law and economics
Loss aversion
Form Electronic book
ISBN 9780190215064
Other Titles Role of loss aversion