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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/10013089704
The theory of insurance is considered here when an insured individual may be able to sue another party for the losses …
Persistent link: https://www.econbiz.de/10011673880
We analyze a model in which firms are able to acquire information about product risks and may or may not be required to disclose this information. We initially study the effect of disclosure rules assuming that firms are not liable for the harm caused by their products. Although mandatory...
Persistent link: https://www.econbiz.de/10014055098
sanction violators of legal rules. We first discuss the basic elements of the theory: the probability of imposition of …
Persistent link: https://www.econbiz.de/10014058396