, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory …

, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory …

violators of legal rules. The theoretical core of our analysis addresses the following basic questions: Should the form of the …

of the rules on the market price and on the number of firms in the industry. For simplicity, the damage caused by each …

When parties can bargain with each other in an externality situation, it is frequently argued that liability rules are … preferable to property rules. The case for liability rules is thought to be strongest when the parties behave strategically, when … are not available. It is shown here that liability rules are not generally preferable to property rules in these …

and, g fortiori, before any harm has occurred. This paper reevaluates the rules of strict liability and negligence when … imposed on the injurer still equal the victim's loss? Are the rules of strict liability and negligence still equally desirable …, then the two rules are equivalent, but if liability is set optimally under each rule, then strict liability generally …