The effect of liability rules on accident avoidance is studied in two types of situations in which potential victims … and potential injurers act sequentially: those where victims act first and injurers second; and those where the reverse is … true. What is of special interest about the working of liability rules in such sequential situations is that the party who …

This paper formally analyzes strict liability and negligence in a market setting. The discussion emphasizes the impact …

When parties can bargain with each other in an externality situation, it is frequently argued that liability rules are … preferable to property rules. The case for liability rules is thought to be strongest when the parties behave strategically, when … are not available. It is shown here that liability rules are not generally preferable to property rules in these …

This article studies a model of liability for automobile accidents in the coming world in which automobiles will be … autonomous. In that world, travelers will not be drivers, rendering liability premised on driver fault irrelevant as a means of … reducing accident dangers. Moreover, no other conventional principle of individual or of manufacturer liability would serve …

We study whether banks are riskier if managers have less liability. We focus on New England between 1867 and 1880 and … consider the introduction of marital property laws that limited liability for newly wedded bankers. We find that banks with … wives from relatively wealthy families. We find no evidence that limiting liability increased firm investment at the county …

other technologies, three policy categories - privacy, trade, and liability - may be uniquely salient in their influence on …

precautions under the negligence rule; administrative cost advantages of liability deriving from its being applied only when harm … harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions …

liability does not require the state to determine expected harm - it requires only that injurers pay for harm that occurs …Taxation and liability are compared here as means of controlling harmful externalities. It is emphasized that liability … impractical for a tax to reflect all variables that significantly affect expected harm, whereas efficiency of incentives under …