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A basic principle of law is that damages paid by a liable party should equal the harm caused by that party. However, this principle is not correct when account is taken of litigation costs, because they too are part of the social costs associated with an injury. In this article we examine the...
Persistent link: https://www.econbiz.de/10013096854
Accident law is the body of legal rules governing the ability of victims of harm to sue and to collect payments from … those who injured them. This paper contains the chapters on accident law from a general, forthcoming book, Foundations of … liability rules on incentives to reduce accident risks. Then consideration of accident law is broadened (chapter 5) to reflect …
Persistent link: https://www.econbiz.de/10013105846
Accident law is the body of legal rules governing the ability of victims of harm to sue and to collect payments from … those who injured them. This paper contains the chapters on accident law from a general, forthcoming book, Foundations of … liability rules on incentives to reduce accident risks. Then consideration of accident law is broadened (chapter 5) to reflect …
Persistent link: https://www.econbiz.de/10013221850
This is a survey of legal liability for accidents. Three general aspects of accident liability are addressed. The first …-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential … injurers (because they may have to pay judgments to victims). In this regard, victims' accident insurance and injurers …
Persistent link: https://www.econbiz.de/10013240975
A liquidity-constrained entrepreneur needs to raise capital to finance a business activity that may cause injuries to third parties -- the tort victims. Taking the level of borrowing as fixed, the entrepreneur finances the activity with senior (secured) debt in order to shield assets from the...
Persistent link: https://www.econbiz.de/10012766333
This paper examines the factors that give rise to intermediaries in exporting and explores the implications for trade volumes. Export intermediaries such as wholesalers serve different markets and export different products than manufacturing exporters. In particular, high market-specific fixed...
Persistent link: https://www.econbiz.de/10013113099
The purpose of this paper is to apply the theory of Lie transformation groups as developed by the first author, and … economics to incorporate the theory of Lie transformation groups, so the results are new, but they are also interesting. Using …
Persistent link: https://www.econbiz.de/10012760052
We consider vertical contracts where the retail market may involve search frictions. Minimum advertised price restrictions (MAP) act as a restraint on customers' information and so can increase search frictions in the retail sector. Such restraints, thereby, soften retail competition—an impact...
Persistent link: https://www.econbiz.de/10012980147
We document how demand shocks in export markets lead French multi-product exporters to re-allocate the mix of products sold in those destinations. In response to positive demand shocks, those French firms skew their export sales towards their best-performing products; and also extend the range...
Persistent link: https://www.econbiz.de/10012986299
The extent and direction of causation between micro volatility and business cycles are debated. We examine, empirically and theoretically, the source and effects of fluctuations in the dispersion of producer- level sales and production over the business cycle. On the theoretical side, we study...
Persistent link: https://www.econbiz.de/10013044984