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This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence is imperfect and rests with the parties. We show that the preponderance of evidence' standard provides maximal incentives to exert care. This holds even though litigants...
Persistent link: https://www.econbiz.de/10011409967
This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence is imperfect and rests with the parties. We show that the "preponderance of evidence" standard provides maximal incentives to exert care. This holds even though litigants...
Persistent link: https://www.econbiz.de/10013320509
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 be distorted by the parties. Efficiency is...
Persistent link: https://www.econbiz.de/10014055375
reputational concerns are not strong enough, however, for injurers to willingly compensate their victims. Absent legal liability … enforced legal liability crowds out informal incentives completely (e.g., individuals causing harm suffer no stigma) but … precautions are then socially efficient. Under imperfectly enforced legal liability, formal legal sanctions and normative concerns …
Persistent link: https://www.econbiz.de/10014200291
I consider the efficiency of liability rules when courts obtain imperfect information about precautionary behavior. I …
Persistent link: https://www.econbiz.de/10014059119
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 be distorted by the parties. Efficiency is...
Persistent link: https://www.econbiz.de/10010273769
Persistent link: https://www.econbiz.de/10014440835
Persistent link: https://www.econbiz.de/10001432196
This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence is imperfect and rests with the parties. We show that the "preponderance of evidence" standard provides maximal incentives to exert care. This holds even though litigants...
Persistent link: https://www.econbiz.de/10001689146
Fault-based liability regimes require an inquiry into the nature of the defendant's conduct, whereas this type of … inquiry is absent in strict liability regimes. Therefore, verdicts reached through fault-based liability regimes can convey … superior information compared to verdicts reached through strict liability regimes. Further reflection reveals that this …
Persistent link: https://www.econbiz.de/10012919763