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Kaplow, Louis - In: Handbook of Law and Economics

This Handbook entry presents a conceptual, normative overview of the subject of taxation. It emphasizes the relationships among the main functions of taxation--notably, raising revenue, redistributing income, and correcting externalities--and the mapping between these functions and various forms...

Persistent link: https://www.econbiz.de/10005227966

A Fundamental Enforcement Cost Advantage of the Negligence Rule over Regulation

Shavell, Steven - 2014

Regulation and the negligence rule are both designed to obtain compliance with desired standards of behavior, but they differ in a primary respect: compliance with regulation is ordinarily assessed independently of the occurrence of harm, whereas compliance with the negligence rule is evaluated...

Persistent link: https://www.econbiz.de/10013065488

Regulation of Health, Safety, and Environmental Risks

Viscusi, W. Kip - In: Handbook of Law and Economics

market risk levels are too great. Hazard warnings policies often can address informational failures. Some market failures may … be exacerbated by government policies, particularly those embodying conservative risk assessment practices. Labor market … estimates of the value of statistical life provide a useful reference point for the efficient risk tradeoffs for government …

Persistent link: https://www.econbiz.de/10005279645