Behavioural Economics and its Implications on Regulatory Law

Abstract

The aim of this article is to analyse the possible implications of behavioural economics on regulatory law and government policy. In order to do so it first introduces and in short describe the current trends in behavioural economics through a quick look into the aim and history of this relatively new and innovative field of economics. Th e article then analyses the combination of this field of study with law in the form of a rather specific field of study called behavioural law and economics. The analyses of the possible impact on government policies and the regulation in certain areas then follow and result in suggestions of further possible interactions between law and economics.