Recently Posted to SSRN:
"Biasing, Debiasing, and the Law"
Minnesota Legal Studies Research Paper No. 13-08
U of St. Thomas Legal Studies Research Paper No. 13-02
DANIEL PI, University of Minnesota - Twin Cities - School of Law
FRANCESCO PARISI, University of Minnesota - Law School, University of Bologna
BARBARA LUPPI, Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, University of St. Thomas School of Law
In this essay, we build on the existing literature on the use of legal strategies for addressing problems of biased judgment and behavior, exploring how heuristics and biases may be exploited to foster efficiency in the presence of other incentive alignment problems. We also introduce two new categories: the hitherto unnoticed counterparts to debiasing and insulating strategies, which we will call "benevolent biasing," and "cognitive leveraging" strategies.