Salience Theory of Judicial Decisions

Bordalo, Pedro, Gennaioli, Nicola and Shleifer, Andrei (2015) Salience Theory of Judicial Decisions. Journal of Legal Studies, 44 (S1).

Abstract

We present a model of judicial decision making in which the judge overweights the salient facts of the case. The context of the judicial decision, which is comparative by nature, shapes which aspects of the case stand out and draw the judge's attention. By focusing judicial attention on such salient aspects of the case, legally irrelevant information can effect judicial decisions. Our model accounts for a range of recent experimental evidence bearing on the psychology of judicial decisions, including anchoring effects in the setting of damages, decoy effects in choice of legal remedies, and framing effects in the decision to litigate. The model also offers a new approach to positive analysis of damage awards in torts.

Item Type: Article
Keywords: finance
Subject(s): Finance
Date Deposited: 11 Jul 2016 15:17
Last Modified: 22 Feb 2017 18:25
Funders: not applicable
URI: http://eureka.sbs.ox.ac.uk/id/eprint/6180

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