Our article integrates the manager’s care in the literature on auditor’s liability. With unobservable efforts, we face … a double moral hazard setting. It is well-known that efficient liability rules without punitive damages do not exist … under these circumstances. However, we show that the problem can be solved through strict liability, con-tingent auditing …

Institutions that rely on joint liability to facilitate lending to the poor have a long historyand are now a common … feature of many developing countries. Economists have proposedseveral theories of joint-liability lending that stress various … highlight how joint liability works in practice.[...] …

Konzeption werden ordonomische Überlegungenentwickelt, wie man Haftung und Innovation für nachhaltiges Wachstumdurch geeignete … concept takes a very radical position against limited liability, whichis based on mistakes. Against this background, this … arrangementsand their incentive effects can foster limited liability as well as innovationand thus support sustainable growth. …