Liability Law and the Control of Externalities with Costly and Uncertain Litigation

Is liability law a suitable instrument for controlling externalities? The optimistic view from the law and economics literature conflicts with observed outcomes from jurisdictions relying on a tort-based procedure for controlling externalities. This discrepancy can be attributed to the fact that results from the highly simplified models used by earlier writers are not robust to modest improvements in the realism of the model structures.

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Year of publication:	1998
Authors:	McKitrick, R.
Subject:	EXTERNALITIES \| LAW \| LIABILITY \| COSTS \| UNCERTAINTY

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Type of publication:	Book / Working Paper
Notes:	15 pages
Classification:	K13 - Tort Law and Product Liability ; K32 - Environmental, Health, and Safety Law ; D62 - Externalities
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005639464