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This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence about injurers' behavior is imperfect and rests with the parties. We show that the `preponderance of evidence' standard used in common law, together with ordinary exclusion...
Persistent link: https://www.econbiz.de/10005844236
We consider the effects on reward systems of workers concern withrelative pay by comparing the wage costs of providing incentives through groupversus individual bonus schemes. When workers have a propensity for envy, eitherscheme may be the least cost one depending on the workers outside...
Persistent link: https://www.econbiz.de/10005844237
We consider the cost of providing incentives through tournaments when workers are inequity averse and performance evaluation is costly.
Persistent link: https://www.econbiz.de/10005844239
We analyze the design of legal principles and procedures for court decision-making in civil litigation. The objective is the provision of appropriate incentives for potential tort-feasors to exert care, when evidence about care is imperfect and may bedistorted by the parties. Efficiency is shown...
Persistent link: https://www.econbiz.de/10005858072