In this paper we discuss a new tort liability rule, which we call super-symmetric comparative negligence and vigilance. When both injurer and victim in an accident are negligent, it provides for liability shares that depend on the degrees of negligence of the two parties, similar to the standard...

A growing body of literature suggests that courts and juries are inclined toward division of liability between two strictly non-negligent or 'vigilant' parties. However, standard models of liability rules do not provide for vigilance-based sharing of liability. In this paper, we explore the...

This paper examines the spatial dimension of marginal willingness to pay (MWP) for reduction of nuclear risks through increased insurance coverage. The effect of distance from a nuclear power plant on individuals' MWP is ambiguous. MWP is expected to decrease with distance because the risk of...

This paper modifies the standard tort model by introducing role-type uncertainty, that is, it is assumed that neither party knows in advance whether she will become the victim or the injurer when an accident occurs. When the standards of care of the two parties are assumed to be set at the...

Judge Learned Hand’s opinion in United States v. Carroll Towing Co. (1947) is canonized in the law and economics literature as the first use of cost-benefit analysis for determining negligence and assigning liability. This paper revisits the original case in which the famous Hand formula was...

I examine if employment protection affects parental childcare. I find that a softer employment protection has a substantial effect on how parents use and divide paid childcare between them. The identification relies on a reform that made it easier for employers in Sweden to dismiss workers in...

The present system for reparation of very large oil accidents at sea neither gives incentives to take efficient care, nor allow for compensation of all damages. The reason is that the magnitudes of the accidents that we study are so big that the total assets of the injurer are not sufficient to...

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Die Reform der Handwerksordnung des Jahres 2004 brachte insbesondere durch die Abschaffung der Meisterpflicht für mehr als die Hälfte der Gewerbezweige des Handwerks eine umfassende Liberalisierung der Zugangsbedingungen. Der vorliegende Beitrag analysiert unter Verwendung von Daten des...

The "revolving door" phenomenon has become very common in most industrialised countries, and is leading to conflicts of interest as well as economic distortions. The purpose of this paper is to develop an indicator of the distortionary effects of the revolving door - The Revolving Door Indicator...