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Economic Analysis of Litigation and the Legal Process

Shavell, Steven - 2003

Economic Analysis of Law (Harvard University Press, 2003). In chapter 17, I consider the basic theory of litigation. Here I … chapter 18, I extend the basic theory of litigation, examining among other issues the bringing of negative value suits …, in chapter 19, I discuss several general aspects of the legal process not considered in the basic theory and its …

Persistent link: https://www.econbiz.de/10012469001

Economic Analysis of Property Law

Shavell, Steven - 2003

This part deals with the basic elements of property law. I begin in chapter 7 by examining the fundamental question of what justifies the social institution of property, that is, the rationale for the rights that constitute what we commonly call ownership. I also discuss examples of the...

Persistent link: https://www.econbiz.de/10012469003

Economic Analysis of Accident Law

Shavell, Steven - 2003

Accident law is the body of legal rules governing the ability of victims of harm to sue and to collect payments from those who injured them. This paper contains the chapters on accident law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press,...

Persistent link: https://www.econbiz.de/10012469004

Fairness Versus Welfare : Notes on the Pareto Principle, Preferences, and Distributive Justice

Kaplow, Louis - 2003

In Fairness versus Welfare, we advance the thesis that social policies should be assessed based entirely on their effects on individuals' well-being. This thesis implies that no independent weight should be accorded to notions of fairness (other than many purely distributive notions). We support...

Persistent link: https://www.econbiz.de/10012469076

Economic Analysis of Accident Law

Shavell, Steven - 2003

Persistent link: https://www.econbiz.de/10012469220

Minimum Asset Requirements

Shavell, Steven - 2002

Requirements that parties have assets of at least a minimum level in order to participate in an activity are frequently imposed. A principal rationale for minimum asset requirements is considered in this article potential injurers have stronger incentives to prevent harm, or not to engage in...

Persistent link: https://www.econbiz.de/10012469371

Moral Rules and the Moral Sentiments : Toward a Theory of an Optimal Moral System

Kaplow, Louis - 2001

We examine how moral sanctions and rewards, notably the moral sentiments involving feelings of guilt and virtue, would be employed to govern individuals' behavior if the objective were to maximize social welfare. In our model, we analyze how the optimal use of guilt and virtue is influenced by...

Persistent link: https://www.econbiz.de/10012470027

A Simple Model of Optimal Deterrence and Incapacitation

Shavell, Steven - 2014

The deterrence of crime and its reduction through incapacitation are studied in a simple multiperiod model of crime and law enforcement. Optimal imprisonment sanctions and the optimal probability of sanctions are determined. A point of emphasis is that the incapacitation of individuals is often...

Persistent link: https://www.econbiz.de/10012457919

A General Rationale for a Governmental Role in the Relief of Large Risks

Shavell, Steven - 2014

The government often provides relief against large risks, such as disasters. A simple, general rationale for this role of government is considered here that applies even when private contracting to share risks is not subject to market imperfections. Specifically, the optimal private sharing of...

Persistent link: https://www.econbiz.de/10012458472

Risk Aversion and the Desirability of Attenuated Legal Change

Shavell, Steven - 2014

This article develops two points. First, insurance against the risk of legal change is largely unavailable, primarily because of the correlated nature of the losses that legal change generates. Second, given the absence of insurance against legal change, it is generally desirable for legal...

Persistent link: https://www.econbiz.de/10012458784