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Risk Aversion, Liability Rules, and Safety
Zivin, Joshua Graff - 2003
negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in …
Persistent link: https://www.econbiz.de/10012469020
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Coasean Bargaining to Address Environmental Externalities
Libecap, Gary D. - 2016
I examine Ronald Coase's criticism of standard regulatory and tax policies to address environmental externalities. I …
Persistent link: https://www.econbiz.de/10012456769
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Resolving Nuisance Disputes : The Simple Economics of Injunctive and Damage Remedies
Polinsky, A. Mitchell - 1980
In nuisance-type cases, legal commentators generally recommend -- and the courts seem to increasingly use -- the award of damages rather than the granting of an injunction of the harmed party. This essay compares the economic consequences of injunctive and damage remedies under a variety of...
Persistent link: https://www.econbiz.de/10012478681
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On the Optimal Burden of Proof
Kaplow, Louis - 2012
The burden of proof is a central feature of adjudication, and analogues exist in many other settings. It constitutes an important but largely unappreciated policy instrument that interacts with the level of enforcement effort and magnitude of sanctions in controlling harmful activity. Models are...
Persistent link: https://www.econbiz.de/10012460894
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Information and Externalities in Sequential Litigation
Hua, Xinyu - 2004
The information created and disseminated through the litigation process can have social value. Suppose a long-lived plaintiff is suing a defendant for damages sustained in an accident. The plaintiff may suffer similar damages in future accidents involving different defendants. Potential injurers...
Persistent link: https://www.econbiz.de/10012467744
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The Effect of Allowance Allocations on Cap-and-Trade System Performance
Hahn, Robert W. - 2010
theory and in practice. A number of factors can call the independence property into question theoretically, including market …
Persistent link: https://www.econbiz.de/10012462798
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Can Fiscal Externalities Be Internalized?
Luttmer, Erzo F. P. - National Bureau of Economic Research - 2022
Subsidies and in-kind transfers give rise to negative fiscal externalities. However, internalizing negative fiscal … externalities through taxation would undo the subsidy or in-kind transfer that caused them. Similarly, positive fiscal externalities … cannot be internalized though government subsidies. This paper describes a mechanism that transfers fiscal externalities from …
Persistent link: https://www.econbiz.de/10013334431
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The Evolution of a Legal Rule
Niblett, Anthony - 2008
The efficiency of common law rules is central to achieving efficient resource allocation in a market economy. While many theories suggest reasons why judge-made law should tend toward efficient rules, the question whether the common law actually does converge in commercial areas has remained...
Persistent link: https://www.econbiz.de/10012464791
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Securing Property Rights
Glaeser, Edward L. - 2016
A central challenge in securing property rights is the subversion of justice through legal skill, bribery, or physical force by the strong--the state or its powerful citizens--against the weak. We present evidence that the less educated and poorer citizens in many countries feel their property...
Persistent link: https://www.econbiz.de/10012455979
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Intracompany Governance and Innovation
Belenzon, Sharon - 2009
This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and publicly traded innovating firms in the US and 15 European countries. A striking novel observation emerges from our analysis: while most innovating firms in the US are publicly...
Persistent link: https://www.econbiz.de/10012463346