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Bill Black.

 Professor, UMKC School of Law.

 

Fraud has become endemic to our financial institutions. Behavioral Economics that focuses solely on financial consumer behavior will have no effect if the fraud within these institutions is not rooted out. Therefore, Behavioralism must be used to incent executives to think longer term, and must signal a change to joint and several liability.

 

4. How may Behavioral Economics be used, then,  to deter fraud/corruption?

 

1. How has fraud become endemic to our financial institutions?

 

3. Would increasing the salience of "reputation damage" be enough to overcome fraud?

 

2. Has Behavioralism addressed the distinction between the legal and popular concepts of  fraud?

 

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