Na and Shin (1998) showed that the veil of uncertainty can be conducive to the success of self-enforcing international … research efforts worldwide to reduce uncertainty about the environmental impact of emissions and the cost of reducing them … but also partial learning. Second, we test whether the conclusion also holds if there is uncertainty about abatement costs …

efficiency of two main civil liability regimes usually enforced to protect the environment: the strict liability regime and the …This paper addresses the conditions for setting up strict civil liability schemes. For that it compares the social … “capped strict liability scheme”. First, it shows that the regulator faces an effective dilemma when he has to enforce one of …

This paper studies the delegation of activities that pose serious risks to health and the environment in an economy … regulated by strict liability schemes. Strict liability induces judgment-proof possibilities. Two civil liability regimes are … then compared: a strict liability scheme and a capped strict liability one. The argument is led under a twofold asymmetric …

This paper analyzes the meaning of comparing the economic performance of strict liability and negligence rule in a … unilateral standard accident model under Knightian uncertainty. It focuses on the cost expectation of major harm on which the … injurers form beliefs. It shows first that, when the Court agrees with the regulator, whatever the liability regime, the first …

liability regimes in tort law: rule of negligence and strict liability. Starting from the standard Shavellian unilateral … accident scheme, I show that matching up liability regime on their capacity to provide the highest level of safety is … uncertainty. The second one takes into consideration the beliefs of agents and their aversion to ambiguity. The model applies …

Uncertainty about long-term climate policy is a major driving force in the evolution of the carbon market price. Since … this price enters the investment decision process of regulated firms, this uncertainty increases the cost of capital for … single firm in a competitive environment. This firm has the opportunity to switch from a high-carbon “dirty” technology to a …