The chapter critically analyzes the contribution of behavioral findings to property law and theory. It starts with studies of basic notions, such as psychological ownership and the endowment effect; and moves on to discuss two major fields: constitutional property law and intellectual property. With regard to the former, the analysis shows how behavioral insights illuminate the distinction between governmental taking and giving of property, between physical and nonphysical takings, and between the taking of homes and other properties. With regard to intellectual property, the chapter deals, among other things, with inventors’ behavior and judicial decision-making in matters of intellectual property. Finally, the chapter discusses the broader issue of protecting entitlements through property rules versus liability rules.
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