NEUROLAW NOVEMBER II – The Opposite of Truth

Imagine a world in which nobody is lying. A world in which no one has ever lied and will never lie. Which problems would emerge? How would life change? There would indeed be fundamental changes. Let us consider an example often used in criminal law classes: A husband whose wife falls in love with another…

NEUROLAW NOVEMBER I – Introduction into Neurolaws

This is the second part of our Neurolaw reading series. You can find the first part HERE. Humans are first and foremost animals – even though we tend to deny that. Animals with morality, guided by the norms of their group and their feelings. We follow the guiding principles of our society which, for example,…

Announcement: Neurolaw November

During the last months you embarked on a journey through the depths of psychology influencing the legal sector. You realized the huge influence the anchoring effect has on negotiations. Judges tend to follow inferences drawn from previous cases and for a defendant, the time of the day has greater influence on the judgement he receives…

All you need to know on the Endowment Effect

We recently mentioned in our Rational Roundup the Nobel Prize won by Prof. Richard Thaler. One of Richard Thaler’s key contributions to behavioral economics – and a reason for an increasing awareness of the latter as a field of research from the early 1980s onwards – is his work on what he labeled the endowment…

How much are you willing to pay for a dollar?

Imagine an auction for a dollar and the person with the highest bid gets the dollar. However, not only the person with the highest bid must pay the price, also the person with the second highest bid must make a payment. The auction starts at one cent and you will see the price increasing up…