Theories of Choice

This book provides an in-depth discussion of the promises and perils of specific types of theories of choice. It shows how the selection of a specific theory of choice can make a difference for concrete legal questions, in particular in the regulation of the digital economy or in choosing between market, firm, or network.

Dr. Stefan Grundmann, LL.M. (Berkeley), is a Professor of Transnational Law and Theory at the European University Institute (Florence) and Professor of Private and Business Law at Humboldt University Berlin. His major publications in several languages include overall treatises on European Company Law, European Contract Law, Banking and Capital Market Law, New Private Law Theory, and a host of articles in these areas, including transnational and interdisciplinary governance issues. He is editor-in-chief of the European Review of Contract Law, the Ius Communitatis series of textbooks, and president of the Society of European Contract Law (SECOLA), of the European Law School (Berlin/London/Paris/Rome/Amsterdam), and of the Theory section of the German Association of Comparative Law.
Dr. Philipp Hacker, LL.M. (Yale) is a Professor of Law and Ethics of the Digital Society at the European New School of Digital Studies, located at European University Viadrina, and a Research Fellow at the Centre for Law, Economics and Society and at the Centre for Blockchain Technologies, both at University College London. Previous positions included an AXA Postdoctoral Fellowship at Humboldt University Berlin, a Max Weber Fellowship at the European University Institute and an A.SK Fellowship at the WZB Berlin Social Science Center. His research focuses on behavioral law and economics as well as the interplay between emerging technologies and the law.

Theories of Choice and the Law - An Introduction
Part I: Foundations
1: Christoph Engel: The Proper Scope of Behavioural Law and Economics
2: Simon Deakin: Rational Choice and its Limits for the Solution and Legal Problems: Three Observations on Behavioural Law and Economics
3: Marlies Ahlert: Game Theory and the Law: Incomplete Knowledge About the Knowledge of Other Players
Part II: Individual Choice and the Law
4: Lucia A. Reisch, Cass R. Substein and Micha Keiser: Most People Like Nudges - And Why That Matters
5: Philipp Hacker: Regulating Under Uncertainty About Rationality: From Decision Theory to Machine Learning and Complexity Theory
6: Anne-Lise Sibony: Did You Say 'Theories of Choice'?: On the Limited and Variable Appetite for Theories in Consumer Law
Part III: Collective Choice and the Law
7: Adrienne Heritier: Itinera Europea: Four Scenarios and their Plausibility
8: Matthew D. Adler: The Social Welfare Function: A New Tool for Regulatory Policy Analysis
9: Andreas Engert: Collective Intelligence: Crowd Wisdom Versus Herding
Part IV: Organizational Choice and the Law
A. Firms
10: Julian Velasco: Decision Theory and Allocation Decision Making in the Firm
11: Luca Enriques and Alessandro Romano: Institutional Investor Voting Behaviour: A Network Theory Perspective
B. Institutions, Networks, and Courts
12: Genevieve Helleringer: Conflict of Interest and Decision-Making
13: Stefan Grundmann: Decision Making in Chains and Networks of Contracts
14: Christopher Brett Jaeger and Jennifer S. Trueblood: The Power of Sequence: A Quantum Perspective on Legal Decision Making