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75 Vand. L. Rev. 1345 (2022)
Exponential Growth Bias and the Law: Why Do We Save Too Little, Borrow Too Much, and Fail to React on Time to Deadly Pandemics and Climate Change

handle is hein.journals/vanlr75 and id is 1393 raw text is: VANDERBILT LAW REVIEW VOLUME 75 OCTOBER 2022 NUMBER 5 ARTICLES Exponential Growth Bias and the Law: Why Do We Save Too Little, Borrow Too Much, and Fail to React on Time to Deadly Pandemics and Climate Change? Doron Teichman Eyal Zamir* Many human decisions, ranging from the taking of loans with compound interest to fighting deadly pandemics, involve phenomena that entail exponential growth. Yet a wide and robust body of empirical studies demonstrates that people systematically underestimate exponential growth. * Doron Teichman is the Jacob I. Berman Professor of Law, and Eyal Zamir is the Augusto Levi Professor of Commercial Law at the Hebrew University of Jerusalem. The authors contributed equally and are listed in alphabetical order. For invaluable comments on previous drafts we thank Katya Assaf, Ronen Avraham, Oren Bar-Gill, Ryan Bubb, Hanjo Hamman, Ori Katz, Russell Korobkin, Ofer Malcai, Jeff Rachlinski, Michal Shur-Ofry, Cass Sunstein, Joshua Teitelbaum, the participants in the Annual Meetings of the American Law and Economics Association at Columbia Law School, the European Law and Economics Association in Barcelona, the Israeli Private Law Association in Tel Aviv, the German Law and Economics Association in Berlin, the Notre Dame-Tel Aviv University Conference on Empirical, Behavioral, and Experimental Analyses of Law, and workshops held at Georgetown Law Center, University of Virginia School of Law, USC Gould School of Law, the Hebrew University in Jerusalem, the Bucerius Law School in Hamburg, and the Interdisciplinary Center in Herzliya. This research was supported by the Israel Science Foundation (Grant No. 699/20). 1345

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