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Environmental risks may comprise the most important policy-related application of the economics of risk and uncertainty. Many biases in risk assessment and regulation, such as the conservatism bias in risk assessment and the stringent regulation of synthetic chemicals, reflect a form of...
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Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is … externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability …
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obligations of insurance intermediaries and a liability rule to sanction violations. In order to interpret and substantiate the …
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