Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is … externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability …

). Finally, we offer considerations on the optimal design of liability rules. …

For joint liability problems concerning tort law, a legal compensation scheme may be based on lower and upper bounds of … associated liability game. …

We provide evidence from a large-scale field experiment on the causal effects of audit rules on compliance in a market …