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expected harm. We find that, even with customers being perfectly informed about product variants' safety, product liability can … discrimination. In this context, strict liability has to be accompanied by a defense of product misuse, but reasonable use of the …
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This paper shows that the provision of consumer rights can decrease welfare when some consumers remain ignorant of these rights. We find that consumers uninformed about a mandated warranty demand excessively safe products in some circumstances. In other circumstances, uninformed consumers buy...
Persistent link: https://www.econbiz.de/10012793595
as forced liquidation. Firms under limited liability are characterized by higher growth and higher insolvency rates than … details of liability regulation and taxation rules which German entrepreneurs face when choosing a particular legal form for … comparable firm under full liability. We also confirm the previously found negative relationship between employment growth and …
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Correlated defaults and systemic risk are clearly priced in credit portfolio securities such as CDOs or index CDSs. In this paper we study an extensive CDX data set for evidence whether correlated defaults are also present in the underlying CDS market. We develop a cash flow based top-down...
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