the presence of such products on innovation and consumer welfare. For a given number of buyers, platform liability … interests between innovators and buyers. Furthermore, platform liability can have unintended consequences, which overturn the … intended effect on innovation. Platform liability tends to increase (decrease) innovation and consumer welfare when the …

Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when … acting as agents under contract and taking costly actions to acquire information before taking decisions. Limited liability … return. Further results on the form of contracts are also derived. -- managers ; risky decisions ; limited liability …

, we contrast producer liability and minimum quality standard regulation as alternative means of social control of product … relative desirability of strict liability vis-à-vis minimum quality standard regulation from a social welfare standpoint. We … also clarify when and why joint use of strict liability and minimum quality standard regulation welfare dominates the …