Licensed workers could be shielded from unemployment during recession since occupational licensing laws are asymmetric …-in-differences event study research design that exploits cross-state variation in licensing laws to compare the unemployment rate between …, we find that licensing shields workers from a recession-induced increase in the unemployment rate of 0.82 p.p. during …

We examine the relationship between product liability litigation and innovation by systematically combining data on … product liability lawsuits with data on new product introductions in a panel dataset of leading medical device firms. We first … suggest that product liability litigation affects the rate and direction of technological progress, and that safety regulation …

Because the optimal level of medical malpractice liability depends on the incentives provided by the health insurance … system, the rise of managed care in the 1990s may affect the relationship between liability reform and defensive medicine. In … this paper, we assess empirically the extent to which managed care and liability reform interact to affect the cost of care …

Previous research suggests that "direct" reforms to the liability system -- reforms designed to reduce the level of …

In an earlier work, we analyzed how the legal rules governing contractual liability affect the transfer of information … between the parties to the contract. In particular, we showed how limitations on contractual liability might lead high … liability are and are not socially desirable. In an article forthcoming in the Stanford Law Review, Barry Adler develops a …

Congress may soon restrict joint and several liability for cleanup of contaminated sites under Superfund. We explore … costs. Recent theoretical research by Kornhauser and Revesz finds that joint and several liability may either encourage or … Superfund litigation. We find that joint and several liability does not discourage settlements and may even encourage them. Our …

injunctions. We investigate how damages under a liability rule and the opportunity for injunctions under a property rule can … affect the incentives to develop research tools. We show that the prevailing legal doctrine of damages under liability rule … rule with injunctions or by a liability rule under the doctrine of unjust enrichment …