Paper Title
A BEHAVIOURAL APPROACH TO LAW AND ECONOMICS

Abstract
A behavioral approach to law and economics represents a significant paradigm shift in the analysis of legal and economic phenomena. This framework integrates principles from both behavioral economics and traditional economic models to provide a more accurate understanding of human decision-making and its implications in the context of the law. This abstract explores the key components of this innovative approach and its potential impact on legal theory and policy. In contrast to the conventional assumption of rationality in economic models, behavioral economics acknowledges that human decision-making is often influenced by cognitive limitations, heuristics, and biases. By incorporating these insights into the analysis of legal issues, a behavioral approach seeks to unravel the complexities of human behavior when confronted with legal incentives and constraints. The behavioral approach to law and economics has broad implications, ranging from criminal justice reform to contract law and environmental regulations. It offers a more nuanced understanding of human behavior and its implications for legal policy. By recognizing the limitations of rational choice theory, this approach provides fresh perspectives on law's role in shaping individual and collective behavior and can inform more effective, evidence-based legal interventions and policy design. Ultimately, this interdisciplinary approach facilitates a more comprehensive and insightful examination of legal systems and their impact on society Keywords - Behavioral Approach, Law, Economics, Cognition, Rationality