Part II Approaches, Ch.22 International Law and Economics: Letting Go of the ‘Normal’ in Pursuit of An Ever-Elusive Real

2016 ◽  
Author(s):  
Danielsen Dan
Keyword(s):  
Economic Theory ◽  
International Law ◽  
Real World ◽  
Law And Economics ◽  
Economic Life ◽  
Normative Values ◽  
Critical Practice ◽  
Letting Go ◽  
World Economic ◽  
Research Choices

This chapter describes some of the most common presuppositions, assumptions, and expectations found in much of international law and economics scholarship. These are most often explained or justified on the grounds that simplifying models and assumptions are necessary to reach analytic conclusions, because the complexity of ‘real world’ economic life is impossible to capture. Yet innovation in international law and economics both at the level of theory and of substantive research will require better methods for identifying and foregrounding the assumptions and normative values that animate research choices and policy conclusion. In short, this chapter proposes a new critical practice of self-conscious analytic introspection and normative transparency, which would be useful to move international law and economic theory beyond its prior limits.

Coase, Ronald H. (1910–)

2018 ◽  
Author(s):  
Brian H. Bix
Keyword(s):  
Economic Theory ◽  
Industrial Organization ◽  
Economic Analysis ◽  
Transaction Costs ◽  
Government Policy ◽  
Real World ◽  
Government Regulation ◽  
Law And Economics ◽  
Economic Analysis Of Law ◽  
Economic Thinking

Coase’s work reshaped the economic analysis of law and government policy, and began the law-and-economics movement. His writings, over the course of decades, have consistently emphasized the importance to clear economic thinking of observing actual practice. While economic theory had often been grounded on abstract models that assumed the absence of any costs for commercial transactions, Coase has shown how recognizing the pervasive presence of frequently substantial transaction costs in the real world requires rethinking established economic ideas about industrial organization and government regulation.

To What Extent Should We Enrich Law and Economics? On Calabresi and his Future of Law and Economics

Global Jurist ◽  
2019 ◽  
Vol 19 (3) ◽  
Author(s):  
Régis Lanneau
Keyword(s):  
Decision Making ◽  
Economic Theory ◽  
Real World ◽  
Law And Economics ◽  
Point Of View ◽  
The Future ◽  
Epistemological Point ◽  
Laws And Regulations

Abstract In this paper, I argue that the “expanded” economic theory advocated in Calabresi’s book “The Future of Law and Economics” could be interpreted in at least three different ways, all of which are compatible. First, Calabresi’s book could be interpreted as an attempt to incentivize lawyer-economists to explore laws and regulations from different angles or perspectives rather than merely apply neoclassical theories. Second, it could be considered an attempt to justify the introduction of the notion of moral costs into law and economics to better explain some legal realities. Third, it could be considered an attempt to advocate, in a more normative way, the need to incorporate moral costs into real world analysis to better improve upon decision making. This paper will address and discuss each of these possible interpretations. It will be clear that, from an epistemological point of view, if the first interpretation might be more widely accepted because it is less controversial, the second and third interpretations remain more problematic. Admittedly, the concept of moral costs could obscure and even distort our understanding of some legal realities. Moreover, the introduction of such costs for decision making is raising questions which cannot be answered through economic theory alone.

A Realist Perspective on Contemporary "Economic Theory" (Foreword by O. Ananyin)

2006 ◽  
pp. 75-98 ◽  
Author(s):  
T. Lawson
Keyword(s):  
Economic Theory ◽  
Life Events ◽  
Alternative Model ◽  
Economic Life ◽  
Social Phenomenon ◽  
Methodological Issues ◽  
Neoclassical Theory ◽  
Fundamental Feature ◽  
Major Powers ◽  
Realist Perspective

The author elaborates on methodological issues of current tendencies in neoclassical theory and demonstrates the necessity of an alternative model of science, which he calls "realist". According to this perspective, constant and regular conjunctions of economic life events should not be the main object of analysis. Rather, the author proposes to consider structures and mechanisms governing events in question. Instead of deductivism, which, as Lawson believes, is a fundamental feature of orthodox economics, the abductive method of economic explanation is proposed that entails investigation of major powers, on which any social phenomenon depends. Society is thereby regarded not as a closed, but rather as an open system.

scholarly journals Elite Decision-making and International Law: Promises and Perils of the Behavioral Revolution

AJIL Unbound ◽  
2021 ◽  
Vol 115 ◽  
pp. 242-247
Author(s):  
Emilie M. Hafner-Burton
Keyword(s):  
Decision Making ◽  
International Law ◽  
Real World ◽  
General Public ◽  
Decision Makers ◽  
Direct Study ◽  
The People ◽  
Growing Body ◽  
Actual Decision

A growing body of research applies behavioral approaches to the study of international law, mainly by studying convenience samples of students or other segments of the general public. Alongside the promises of this agenda are concerns about applying findings from non-elite populations to the people, and groups of people, charged with most real-world decision-making in the domain of law and governance. This concern is compounded by the fact that it is extremely difficult to recruit these actual decision-makers in a way that allows for direct study.

Responsibility and obligation in the ‘Responsibility to Protect’

2010 ◽  
Vol 36 (S1) ◽  
pp. 25-46 ◽  
Author(s):  
WILLIAM BAIN
Keyword(s):  
International Law ◽  
Real World ◽  
The Other ◽  
Responsibility To Protect ◽  
Men And Women ◽  
The Real

AbstractThis article takes up Louise Arbour's claim that the doctrine of the ‘Responsibility to Protect’ is grounded in existing obligations of international law, specifically those pertaining to the prevention and punishment of genocide. In doing so, it argues that the aspirations of the R2P project cannot be sustained by the idea of ‘responsibility’ alone. The article proceeds in arguing that the coherence of R2P depends on an unacknowledged and unarticulated theory of obligation that connects notions of culpability, blame, and accountability with the kind of preventive, punitive, and restorative action that Arbour and others advocate. Two theories of obligation are then offered, one natural the other conventional, which make this connection explicit. But the ensuing clarity comes at a cost: the naturalist account escapes the ‘real’ world to redeem the intrinsic dignity of all men and women, while the conventionalist account remains firmly tethered to the ‘real’ world in redeeming whatever dignity can be had by way of an agreement. The article concludes by arguing that the advocate of the responsibility to protect can have one or the other, but not both.

scholarly journals Real‐World Economic Impact of Onabotulinumtoxin A in Patients With Chronic Migraine

2014 ◽  
Vol 54 (10) ◽  
pp. 1565-1573 ◽  
Author(s):  
John F. Rothrock ◽  
Lisa M. Bloudek ◽  
Timothy T. Houle ◽  
Diane Andress‐Rothrock ◽  
Sepideh F. Varon
Keyword(s):  
Economic Impact ◽  
Chronic Migraine ◽  
Real World ◽  
Onabotulinumtoxin A ◽  
World Economic

Moral Norms, Adaptive Preferences, and Hedonic Psychology

2021 ◽  
Vol 22 (2) ◽  
pp. 35-54
Author(s):  
Jonathan S. Masur
Keyword(s):  
Economic Theory ◽  
Human Behavior ◽  
Law And Economics ◽  
Moral Norm ◽  
Moral Norms ◽  
Adaptive Preferences ◽  
The Government ◽  
Behavioral Law And Economics ◽  
Hedonic Approach

Abstract In a series of important papers published roughly twenty years ago, Professor Robert Cooter developed a comprehensive economic theory of moral norms. He explained the value of those norms, described the process by which norms are adopted, and offered a set of predictions regarding the circumstances under which an individual will choose to adopt a particular moral norm. This brief Article applies behavioral law and economics and hedonic psychology to expand upon Professor Cooter’s path-breaking theory. In particular, understanding welfare in hedonic terms — rather than preference-satisfaction terms — suggests a multitude of further situations in which individuals will justifiably seek to internalize moral norms. The hedonic approach to welfare then further suggests an enhanced role for the government to play in encouraging the adoption of welfare-enhancing norms. Cooter’s theory, combined with modern understandings of welfare and human behavior, thus offers powerful predictive and prescriptive possibilities.

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