Author: Publisher:
ISBN:
Category :
Languages : en
Pages : 20
Book Description
Optimal Liability when the Injure's Information about the Victim's Loss is Imperfect
Author: Optimal Liability when the Injurer's Information about the Victim's Loss is Imperfect
Author: A. Mitchell PolinskyPublisher:
ISBN:
Category : Liability (Law)
Languages : en
Pages : 22
Book Description
A central result in the economic theory of liability is that, if an injurer's liability equals the victim's loss, then either the rule of strict liability or the rule of negligence can induce the injurer to behave properly. However, for this result to hold, the injurer must know the victim's loss before the injurer decides whether to engage in the harmful activity and, g fortiori, before any harm has occurred. This paper reevaluates the rules of strict liability and negligence when the injurer's information is imperfect. Two questions are addressed: Under each rule, should the level of liability imposed on the injurer still equal the victim's loss? Are the rules of strict liability and negligence still equally desirable? With respect to the first question, it is demonstrated that the optimal level of liability generally is not equal to the victim's loss. With respect to the second question, it is shown that if the injurer's liability equals the victim's loss, then the two rules are equivalent, but if liability is set optimally under each rule, then strict liability generally induces the injurer to behave in a more appropriate way.
Handbook of Insurance
Author: Georges DionnePublisher: Springer Science & Business Media
ISBN: 1461401550
Category : Business & Economics
Languages : en
Pages : 1133
Book Description
This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.
Economic Analysis of Tort and Products Liability Law
Author: Jenny Bourne WahlPublisher: Taylor & Francis
ISBN: 9780815330875
Category : Law
Languages : en
Pages : 372
Book Description
First published in 1999. Routledge is an imprint of Taylor & Francis, an informa company.
The Oxford Handbook of Law and Economics
Author: Francesco ParisiPublisher: Oxford University Press
ISBN: 0199684200
Category : Business & Economics
Languages : en
Pages : 593
Book Description
The Oxford Handbook of Law and Economics applies the theoretical and empirical methods of economics to the study of law. Volume 2 surveys Private and Commercial Law.
Environmental Liability, Imperfect Information and Multidimensional Pollution Control
Author: Elga BartschPublisher:
ISBN:
Category : Negligence
Languages : en
Pages : 36
Book Description
Foundations of Economic Analysis of Law
Author: Steven ShavellPublisher: Harvard University Press
ISBN: 0674043499
Category : Law
Languages : en
Pages : 760
Book Description
What effects do laws have? Do individuals drive more cautiously, clear ice from sidewalks more diligently, and commit fewer crimes because of the threat of legal sanctions? Do corporations pollute less, market safer products, and obey contracts to avoid suit? And given the effects of laws, which are socially best? Such questions about the influence and desirability of laws have been investigated by legal scholars and economists in a new, rigorous, and systematic manner since the 1970s. Their approach, which is called economic, is widely considered to be intellectually compelling and to have revolutionized thinking about the law. In this book Steven Shavell provides an in-depth analysis and synthesis of the economic approach to the building blocks of our legal system, namely, property law, tort law, contract law, and criminal law. He also examines the litigation process as well as welfare economics and morality. Aimed at a broad audience, this book requires neither a legal background nor technical economics or mathematics to understand it. Because of its breadth, analytical clarity, and general accessibility, it is likely to serve as a definitive work in the economic analysis of law.
Tort Liability Under Uncertainty
Author: Ariel PoratPublisher: Oxford University Press, USA
ISBN: 9780198267973
Category : Law
Languages : en
Pages : 236
Book Description
Providing a comprehensive and principled account of the uncertainty problem that arises in tort litigation, this text critically examines the existing doctrinal solutions of the problem, as evolved in England, United States, Canada & Israel.
Journal of Economic Literature
Author: Law and Economics
Author: Richard A. PosnerPublisher: Edward Elgar Publishing
ISBN:
Category : Law
Languages : en
Pages : 710
Book Description
These three volumes, sold in a set, offer a selection of important articles in law and economics literature, written by scholars who include Ronald Coase, Robert Cooter, Henry Manne, Steven Shavell and Oliver Williamson. The articles are arranged by theme into 12 sections.