-movement in rewards -- "joint liability" (positive) or "tournaments" (negative) -- to the assumed structure of preference …. First, the optimal contract leans towards joint liability rather than tournaments, especially in larger teams, in a sense …

A central result in the economic theory of liability is that, if an injurer's liability equals the victim's loss, then … either the rule of strict liability or the rule of negligence can induce the injurer to behave properly. However, for this … and, g fortiori, before any harm has occurred. This paper reevaluates the rules of strict liability and negligence when …