Feldman, Allan M.; Singh, Ram - Centre for Development Economics, Delhi School of Economics - 2008
strictly non-negligent or “vigilant” parties. However, standard models of liability rules do not provide for vigilance …-based sharing of liability. In this paper, we explore the economic efficiency of liability rules based on comparative vigilance. We … devise rules that are efficient and that reward vigilance. It is commonly believed that discontinuous liability shares are …