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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
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
quality of medical care is an extremely important determinant of deferdants' medical malpractice liability. More generally, we …
Persistent link: https://www.econbiz.de/10012475602
, injunctions or other forms of property rules work better than compensation for damage or liability rules. The equivalences of the …
Persistent link: https://www.econbiz.de/10012455979
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
We develop a model where products liability trials provide information to consumers who are not parties to the …
Persistent link: https://www.econbiz.de/10012461622
Recent litigation against major tobacco companies culminated in a Master Settlement Agreement' (MSA) under which the participating companies agreed to compensate most states for Medicaid expenses. We outline the terms of the settlement and analyze whether it was a move toward economic efficiency...
Persistent link: https://www.econbiz.de/10012470990
Because the optimal level of medical malpractice liability depends on the incentives provided by the health insurance … system, the rise of managed care in the 1990s may affect the relationship between liability reform and defensive medicine. In … this paper, we assess empirically the extent to which managed care and liability reform interact to affect the cost of care …
Persistent link: https://www.econbiz.de/10012471238
Previous research suggests that "direct" reforms to the liability system -- reforms designed to reduce the level of …
Persistent link: https://www.econbiz.de/10012471241
and 2006, we find that caps on non-economic damages, collateral source reform, and joint and several liability reform …
Persistent link: https://www.econbiz.de/10012463279