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A Liberal Challenge to Behavioral Economics: The Case of Probability

Alex Stein, Cardozo Law School

Abstract

THE "BLUE CAB" EXPERIMENT: ARE LAY FACT-FINDERS "PROBABILISTICALLY CHALLENGED"? No, they are not. The experiment is methodologically deficient, as is the behavioral economics' assumption that one needs to conceptualize probabilities in the Pascalian way in order to be rational.

Suggested Citation

Alex Stein. "A Liberal Challenge to Behavioral Economics: The Case of Probability" New York University Journal of Law & Liberty 2 (2007).
Available at: http://works.bepress.com/alex_stein/7