Current regulation and liability schemes ineffectively prevent and routinely under compensate natural resources damages. Compensation instruments, such as liability insurance, direct insurance, risk sharing agreement, environmental funds, and guarantees provided by liable parties or third...

In the last decade one can identify several accidents which can be classified as large scale accidents of a catastrophic dimension. After such a catastrophe the compensation of victims is of crucial importance and governments often intervene in this compensation. However, the organization of...

In this contribution we focus on the role of experts in the assessment of tort damages from an economic point of view. We distinguish two different aspects.First, we examine the role which economists might play in assessing damages in tort cases. This approach focuses on the insights that Law...

In this contribution Michael Faure, Marjan Peeters and Andri Wibisana discussed the question whether economic instruments, also referred to as marketable instruments, are also suited for developing countries. The classic arguments concerning the shortcomings of command and control instruments...

This chapter in a book on European product liability provides a summary of the economic approach to product liability. The economic theory of product liability based on the Coase Theorem is explained. Next, product liability when damage is suffered by third parties is analyzed. Specific...

In this paper, we study the law and economics of cyber risk pooling arrangements: risk sharing without an insurer. We start our discussion with the current theoretical foundations for risk shifting in cyber security. We subsequently discuss cyber risk pooling in relation to individual risk...

Over the last years, third-party financing (TPF) of litigation has received considerable attention from both legal commentators and economists. Legal commentators have mainly examined whether third-party litigation financing agreements violate the common law doctrines of maintenance and...

This chapter focuses on one particular aspect of adaptation to climate change, being the fact that climate change can create large losses. The paper addresses the question how compensation for those losses can be generated. After sketching a few general principles the paper addresses the pros...

This paper will be published as a chapter of the forthcoming volume ‘Directors & Officers Liability' edited by Simon F. Deakin, Helmut Koziol, and Olaf Riss. It explores D&O liability from a law and economics perspective with a view to identify trade-offs of different legal settings. The paper...