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

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

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

A "decoupled" liability system is one in which the award to the plaintiff differs from the payment by the defendant …

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

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 …

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 …