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Optimal liability rules for multiparty accidents

Finsinger, Jörg; Pauly, Mark V. - 1986

Persistent link: https://www.econbiz.de/10000712439

The double liability rule

Finsinger, Jörg - In: The Geneva papers on risk and insurance theory 15 (1990) 2, pp. 159-169

Persistent link: https://www.econbiz.de/10001138594

The Economics of insurance regulation : a cross-national study

Finsinger, Jörg (ed.); Pauly, Mark V. (ed.) - 1986

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Reserve levels and reserve requirements for profit maximizing insurance firms

Finsinger, Jörg; Pauly, Mark - 1984

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Some observations on greater competition in the German health insurance system from a U.S. perspective

Finsinger, Jörg; Kraft, Kornelius; Pauly, Mark - 1984

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The Double Liability Rule&ast;

Finsinger, Jörg; Pauly, Mark V. - In: The Geneva Risk and Insurance Review 15 (1990) 2, pp. 159-169

Conventional liability rules do not lead to a first best allocation. Optimal bilateral risk control can be achieved by not compensating any losses and, in addition, charging each party a fine equal to the loss suffered by the other party. In this way, each party internalizes the full accident...

Persistent link: https://www.econbiz.de/10005149375