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Doomen, Salvaging Law and Economics" /> <meta name="citation_publication_date" content="2011/01/01" /> <meta name="citation_journal_title" content="Quality and Quantity online first (2011); print version vol. 47, no. 4 (2013), pp. 1943-1956" /> <meta name="citation_author" content="Jasper Doomen" /> <meta name="twitter:card" content="summary" /> <meta name="twitter:url" content="https://www.academia.edu/1934658/J_Doomen_Salvaging_Law_and_Economics" /> <meta name="twitter:title" content="J. Doomen, Salvaging Law and Economics" /> <meta name="twitter:description" content="Some of Law and Economics’ basic claims have come to be criticized as a result of empirical findings that question their viability. 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Particularly, the premise that agents consistently act rationally and with their self-interest in mind seems problematic. What the consequences of the criticism mean for Law and Economics’ tenability depends largely on the questions whether (1) some elements are unassailable to the alternative’s objections and (2) the alternative is a systematic whole. It is argued that Law and Economics may be salvaged, if it is minimized and its ambitions are tempered. This means focusing on the stable, a priori, elements inherent to it.","author":[{"@context":"https://schema.org","@type":"Person","name":"Jasper Doomen","url":"https://independent.academia.edu/JasperDoomen"}],"contributor":[],"dateCreated":"2012-09-13","datePublished":"2011-01-01","headline":"J. 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{"work":{"id":1934658,"created_at":"2012-09-13T20:33:28.150-07:00","from_world_paper_id":null,"updated_at":"2023-01-24T05:47:02.791-08:00","_data":{"abstract":"Some of Law and Economics’ basic claims have come to be criticized as a result of empirical findings that question their viability. Particularly, the premise that agents consistently act rationally and with their self-interest in mind seems problematic. What the consequences of the criticism mean for Law and Economics’ tenability depends largely on the questions whether (1) some elements are unassailable to the alternative’s objections and (2) the alternative is a systematic whole. It is argued that Law and Economics may be salvaged, if it is minimized and its ambitions are tempered. This means focusing on the stable, a priori, elements inherent to it.","event_date":null,"journal_name":"Quality and Quantity online first (2011); print version vol. 47, no. 4 (2013), pp. 1943-1956","publication_date":"2011,,","publication_name":"Quality \u0026 Quantity (online first 2011). Print version vol. 47, no. 4 (June 2013), pp. 1943-1956","conference_end_date":null,"conference_start_date":null},"document_type":"paper","pre_hit_view_count_baseline":5,"quality":"low","language":"en","title":"J. Doomen, Salvaging Law and Economics","broadcastable":true,"draft":null,"has_indexable_attachment":true,"indexable":true}}["work"]; window.loswp.workCoauthors = [2261419]; window.loswp.locale = "en"; window.loswp.countryCode = "SG"; window.loswp.cwvAbTestBucket = ""; window.loswp.designVariant = "ds_vanilla"; window.loswp.fullPageMobileSutdModalVariant = "full_page_mobile_sutd_modal"; window.loswp.useOptimizedScribd4genScript = false; window.loginModal = {}; window.loginModal.appleClientId = 'edu.academia.applesignon'; window.userInChina = "false";</script><script defer="" src="https://accounts.google.com/gsi/client"></script><div class="ds-loswp-container"><div class="ds-work-card--grid-container"><div class="ds-work-card--container js-loswp-work-card"><div class="ds-work-card--cover"><div class="ds-work-cover--wrapper"><div class="ds-work-cover--container"><button class="ds-work-cover--clickable js-swp-download-button" data-signup-modal="{"location":"swp-splash-paper-cover","attachmentId":30965655,"attachmentType":"pdf"}"><img alt="First page of “J. Doomen, Salvaging Law and Economics”" class="ds-work-cover--cover-thumbnail" src="https://0.academia-photos.com/attachment_thumbnails/30965655/mini_magick20180819-22786-1rqarc5.png?1534732840" /><img alt="PDF Icon" class="ds-work-cover--file-icon" src="//a.academia-assets.com/images/single_work_splash/adobe_icon.svg" /><div class="ds-work-cover--hover-container"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">download</span><p>Download Free PDF</p></div><div class="ds-work-cover--ribbon-container">Download Free PDF</div><div class="ds-work-cover--ribbon-triangle"></div></button></div></div></div><div class="ds-work-card--work-information"><h1 class="ds-work-card--work-title">J. Doomen, Salvaging Law and Economics</h1><div class="ds-work-card--work-authors ds-work-card--detail"><a class="ds-work-card--author js-wsj-grid-card-author ds2-5-body-md ds2-5-body-link" data-author-id="2261419" href="https://independent.academia.edu/JasperDoomen"><img alt="Profile image of Jasper Doomen" class="ds-work-card--author-avatar" src="//a.academia-assets.com/images/s65_no_pic.png" />Jasper Doomen</a></div><div class="ds-work-card--detail"><p class="ds-work-card--detail ds2-5-body-sm">2011, Quality & Quantity (online first 2011). Print version vol. 47, no. 4 (June 2013), pp. 1943-1956</p><div class="ds-work-card--work-metadata"><div class="ds-work-card--work-metadata__stat"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">visibility</span><p class="ds2-5-body-sm" id="work-metadata-view-count">…</p></div><div class="ds-work-card--work-metadata__stat"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">description</span><p class="ds2-5-body-sm">14 pages</p></div><div class="ds-work-card--work-metadata__stat"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">link</span><p class="ds2-5-body-sm">1 file</p></div></div><script>(async () => { const workId = 1934658; const worksViewsPath = "/v0/works/views?subdomain_param=api&work_ids%5B%5D=1934658"; const getWorkViews = async (workId) => { const response = await fetch(worksViewsPath); if (!response.ok) { throw new Error('Failed to load work views'); } const data = await response.json(); return data.views[workId]; }; // Get the view count for the work - we send this immediately rather than waiting for // the DOM to load, so it can be available as soon as possible (but without holding up // the backend or other resource requests, because it's a bit expensive and not critical). const viewCount = await getWorkViews(workId); const updateViewCount = (viewCount) => { try { const viewCountNumber = parseInt(viewCount, 10); if (viewCountNumber === 0) { // Remove the whole views element if there are zero views. document.getElementById('work-metadata-view-count')?.parentNode?.remove(); return; } const commaizedViewCount = viewCountNumber.toLocaleString(); const viewCountBody = document.getElementById('work-metadata-view-count'); if (!viewCountBody) { throw new Error('Failed to find work views element'); } viewCountBody.textContent = `${commaizedViewCount} views`; } catch (error) { // Remove the whole views element if there was some issue parsing. document.getElementById('work-metadata-view-count')?.parentNode?.remove(); throw new Error(`Failed to parse view count: ${viewCount}`, error); } }; // If the DOM is still loading, wait for it to be ready before updating the view count. if (document.readyState === "loading") { document.addEventListener('DOMContentLoaded', () => { updateViewCount(viewCount); }); // Otherwise, just update it immediately. } else { updateViewCount(viewCount); } })();</script></div><p class="ds-work-card--work-abstract ds-work-card--detail ds2-5-body-md">Some of Law and Economics’ basic claims have come to be criticized as a result of empirical findings that question their viability. Particularly, the premise that agents consistently act rationally and with their self-interest in mind seems problematic. What the consequences of the criticism mean for Law and Economics’ tenability depends largely on the questions whether (1) some elements are unassailable to the alternative’s objections and (2) the alternative is a systematic whole. It is argued that Law and Economics may be salvaged, if it is minimized and its ambitions are tempered. This means focusing on the stable, a priori, elements inherent to it.</p><div class="ds-work-card--button-container"><button class="ds2-5-button js-swp-download-button" data-signup-modal="{"location":"continue-reading-button--work-card","attachmentId":30965655,"attachmentType":"pdf","workUrl":"https://www.academia.edu/1934658/J_Doomen_Salvaging_Law_and_Economics"}">See full PDF</button><button class="ds2-5-button ds2-5-button--secondary js-swp-download-button" data-signup-modal="{"location":"download-pdf-button--work-card","attachmentId":30965655,"attachmentType":"pdf","workUrl":"https://www.academia.edu/1934658/J_Doomen_Salvaging_Law_and_Economics"}"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">download</span>Download PDF</button></div><div class="ds-signup-banner-trigger-container"><div class="ds-signup-banner-trigger ds-signup-banner-trigger-control"></div></div><div class="ds-signup-banner ds-signup-banner-control"><div id="ds-signup-banner-close-button"><button class="ds2-5-button ds2-5-button--secondary ds2-5-button--inverse"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">close</span></button></div><div class="ds-signup-banner-ctas"><img src="//a.academia-assets.com/images/academia-logo-capital-white.svg" /><h4 class="ds2-5-heading-serif-sm">Sign up for access to the world's latest research</h4><button class="ds2-5-button ds2-5-button--inverse ds2-5-button--full-width js-swp-download-button" data-signup-modal="{"location":"signup-banner"}">Sign up for free<span class="material-symbols-outlined" style="font-size: 20px" translate="no">arrow_forward</span></button></div><div class="ds-signup-banner-divider"></div><div class="ds-signup-banner-reasons"><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Get notified about relevant papers</span></div><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Save papers to use in your research</span></div><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Join the discussion with peers</span></div><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Track your impact</span></div></div></div><script>(() => { // Set up signup banner show/hide behavior: // 1. 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It is first of all a work in legal theory that examines important parts of private law, namely, contracts and torts. The focus is on questions regarding the allocation of risk. Half the book is devoted to developing Coleman's new views on torts and to a critique of alternative accounts. Risks and Wrongs is also a critical study of the 'economic' analyses of private law that have been so influential in the last decades, especially i n the United States. Coleman is well-known as a sympathetic critic of the 'Law and Economics' movement, and this book presents some of his latest thoughts on the relation of law and efficiency. More generally, the book may also be understood to be part of a larger theoretical endeavour concerning practical reason and politics and law. Here the fundamental question is "How do, and ought, people to live together?" (p. 66), and Coleman's account of contracts and torts is merely one of the pieces of a much larger project.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Practical Rationality, Markets, and Private Law 1","attachmentId":80484479,"attachmentType":"pdf","work_url":"https://www.academia.edu/70941242/Practical_Rationality_Markets_and_Private_Law_1","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/70941242/Practical_Rationality_Markets_and_Private_Law_1"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" 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Also this paper will highlight the sub fields of the law and economic methodology and how it operates. finally, it will present the criticisms of that methodology and the counter responses to such criticisms.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Law and Economics: Contexts and Criticisms","attachmentId":34793429,"attachmentType":"pdf","work_url":"https://www.academia.edu/8396645/Law_and_Economics_Contexts_and_Criticisms","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/8396645/Law_and_Economics_Contexts_and_Criticisms"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="6" data-entity-id="63974459" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/63974459/Rule_of_Law_in_Legal_and_Economic_Theory">Rule of Law in Legal and Economic Theory</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="93558" href="https://byu.academia.edu/NoelBReynolds">Noel B. Reynolds</a></div><p class="ds-related-work--metadata ds2-5-body-xs">1993</p><p class="ds-related-work--abstract ds2-5-body-sm">It is one of the curiosities of the academic world that one dimension of human experience will sometimes be investigated from multiple disciplinary, theoretical, and methodological perspectives. This is clearly the case with legal theory, which has grown out of traditional studies of the law as a means of bringing more coherence and order to those studies. But law must also be one of the important features of human societies to be investigated by the comparatively young social sciences. While empirical social science has struggled through a troubled infancy and childhood, one has to hope that it will someday mature to the point that it can deal with law in a way that does not oversimplify or compromise the centuries of insight that have accumulated in more isolated legal studies. And once that happens, a much broader platform of understanding of human action may facilitate important new understandings of law and legal systems. In this paper I will show how recent developments in economic and sociological theory may facilitate some expanded union of analytic philosophy of law with the empirical social sciences, a union which, in turn, may bring important new understanding of the rule of law. As I have explored the implications for our understanding of rule of law elsewhere, 1 the present essay will document the reluctance of leading legal positivists to make strong connections to the social sciences and will describe the developments in the social sciences, inspired principally by economics and rational choice theory, which make such a union more promising at this time.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Rule of Law in Legal and Economic Theory","attachmentId":76221763,"attachmentType":"pdf","work_url":"https://www.academia.edu/63974459/Rule_of_Law_in_Legal_and_Economic_Theory","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/63974459/Rule_of_Law_in_Legal_and_Economic_Theory"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="7" data-entity-id="124674080" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/124674080/_Law_and_a_New_Perspective">‘Law and…’ a New Perspective</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="103948893" href="https://independent.academia.edu/MatteoCati">Matteo Cati</a></div><p class="ds-related-work--metadata ds2-5-body-xs">2022</p><p class="ds-related-work--abstract ds2-5-body-sm">This paper reinterprets, differently from the existing literature, the relationship between law and economics not from the point of view of a lawyer-economist but rather from the point of view of an economist-mathematician, and it raises a methodological issue. To do so, some of the elements of the theory of sets are borrowed to argue that behavioral economics, its application to behavioral law and economics, and behavioral economists have generalized the pioneering work of Judge Calabresi, with reference to the famous books 'Tragic Choices' and 'The Future of Law and Economics-Essays in Reform and Recollection'. Even if the usage of the theory of sets made in this paper is intuitive, some of its basics are reviewed in the appendix.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"‘Law and…’ a New Perspective","attachmentId":118856226,"attachmentType":"pdf","work_url":"https://www.academia.edu/124674080/_Law_and_a_New_Perspective","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/124674080/_Law_and_a_New_Perspective"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="8" data-entity-id="413630" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/413630/Economics_of_Law_As_Choice_of_Law">Economics of Law As Choice of Law</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="310895" href="https://mpipriv.academia.edu/RalfMichaels">Ralf Michaels</a></div><p class="ds-related-work--metadata ds2-5-body-xs">Law and Contemporary Problems, 2008</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Economics of Law As Choice of Law","attachmentId":3436311,"attachmentType":"pdf","work_url":"https://www.academia.edu/413630/Economics_of_Law_As_Choice_of_Law","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/413630/Economics_of_Law_As_Choice_of_Law"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="9" data-entity-id="104028125" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/104028125/Exploring_the_interaction_between_law_and_economics_the_limits_of_formalism">Exploring the interaction between law and economics: the limits of formalism</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="43035792" href="https://independent.academia.edu/SolPicciotto">Sol Picciotto</a></div><p class="ds-related-work--metadata ds2-5-body-xs">Legal Studies, 1998</p><p class="ds-related-work--abstract ds2-5-body-sm">As lawyers concerned with the regulation of economic activity, we applaud the recognition in Professor Charles Goodhart&#39;s recent Chorley lecture that much of the ‘law and economics’ of the past quarter-century has involved ‘too much one-way traffic’. If the field of law and economics has indeed largely, as Professor Goodhart suggests, consisted of a process of intellectual imperialism, specifically of the colonisation of law by economics, we consider it important to reflect on the reasons for this, and to make some suggestions to improve the collaboration between the two disciplines. In brief, we suggest that this interaction has been bedevilled by its tendency to reproduce the worst aspects of formalism in each discipline.Professor Goodhart shows that the bulk of law and economics has consisted of a fairly unthinking application of standard neo-classical economic assumptions to legal phenomena which have themselves typically been conceived in conventional doctrinal terms.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Exploring the interaction between law and economics: the limits of formalism","attachmentId":103866437,"attachmentType":"pdf","work_url":"https://www.academia.edu/104028125/Exploring_the_interaction_between_law_and_economics_the_limits_of_formalism","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/104028125/Exploring_the_interaction_between_law_and_economics_the_limits_of_formalism"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div></div></div><div class="ds-sticky-ctas--wrapper js-loswp-sticky-ctas hidden"><div class="ds-sticky-ctas--grid-container"><div class="ds-sticky-ctas--container"><button class="ds2-5-button js-swp-download-button" data-signup-modal="{"location":"continue-reading-button--sticky-ctas","attachmentId":30965655,"attachmentType":"pdf","workUrl":null}">See full PDF</button><button class="ds2-5-button ds2-5-button--secondary js-swp-download-button" data-signup-modal="{"location":"download-pdf-button--sticky-ctas","attachmentId":30965655,"attachmentType":"pdf","workUrl":null}"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">download</span>Download PDF</button></div></div></div><div class="ds-below-fold--grid-container"><div class="ds-work--container js-loswp-embedded-document"><div class="attachment_preview" data-attachment="Attachment_30965655" style="display: none"><div class="js-scribd-document-container"><div class="scribd--document-loading js-scribd-document-loader" style="display: block;"><img alt="Loading..." src="//a.academia-assets.com/images/loaders/paper-load.gif" /><p>Loading Preview</p></div></div><div style="text-align: center;"><div class="scribd--no-preview-alert js-preview-unavailable"><p>Sorry, preview is currently unavailable. 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Porrata-Doria, Jr and Mauro Grondona - Guido Calabresi’s The Future of Law & Economics</a><div class="ds-related-work--metadata"><a class="js-related-work-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="10948371" href="https://unina2.academia.edu/TheItalianLawJournal">The Italian Law Journal ItaLJ</a><span>, </span><a class="js-related-work-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="469529" href="https://unige-it.academia.edu/MauroGrondona">Mauro Grondona</a><span>, </span><a class="js-related-work-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="82884983" href="https://temple.academia.edu/RafaelPorrataDoria">Rafael Porrata-Doria</a></div><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Rafael A. 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