Based on case studies of bankruptcies and business revitalizations in Japan, this publication deepens consideration while clarifying the usefulness of behavioral economics in various human decision-making. As research methods, starting with human’s bounded rationality, which is a target of analysis in behavioral economics, the behaviors of consumers and business owners in relation to business revitalization are analyzed for the purpose of examining basic factors for economizing transaction costs. Then, the targets of analysis are applied to the framework of law and economics studies, and the judicial system related to business revitalization is discussed from the perspective of behavioral economics, with a view to the realization of economizing transaction costs.