Product liability: the normative Austrian perspective

The paper is an exercise in a normative economic analysis of product liability. After a short historical introduction, we take two of the basic premises of Austrian economic thought and see which system of product liability results. If costs are subjective and entrepreneurship is the essence of an efficient market process a system of caveat emptor follows. The paper also answers some possible criticisms from the mainstream neoclassical perspective.

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Year of publication:	2001
Authors:	Folmer, Henk ; Heijman, Wim J.M. ; Leen, Auke R.
Subject:	Austrian economics \| product liability \| contract law \| Consumer/Household Economics

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Extent:	application/pdf
Series:	Mansholt Working Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Mansholt Graduate School of Social Sciences>Mansholt Working Papers Number 43020
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005522988