some of the principles of liability from earlier chapters when harm is caused by an agent who is under the supervision of a … principal. The primary questions addressed are: Is the optimal level of liability different when harm is caused by an agent of a … principal rather than by a single actor? Should liability be imposed on the principal, the agent, or both? If on both, what is …

A central result in the economic theory of liability is that, if an injurer's liability equals the victim's loss, then … either the rule of strict liability or the rule of negligence can induce the injurer to behave properly. However, for this … and, g fortiori, before any harm has occurred. This paper reevaluates the rules of strict liability and negligence when …

imprisonment term, or a combination of the two? Should the rule of liability be strict or fault-based? If violators are caught only …

This article studies how liability for environmentally harmful discharges affects the incentives of firms to engage in …

This paper formally analyzes strict liability and negligence in a market setting. The discussion emphasizes the impact …

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 …

sanction imposed on a liable party be a fine, an imprisonment term, or a combination of the two? Should the rule of liability …

, focusing on the probability of imposition of sanctions, the magnitude and form of sanctions, and the rule of liability. We then …

Should the level of liability imposed on an injurer be based on the harm he caused or instead on the gain he obtained … from engaging in the harmful act? The main point of this article is that there is a strong reason to favor liability based … significantly exceeds his gain. The general superiority of harm-based liability is shown to hold under the rules of negligence and …