We analyze liability rules in a setting where injurers are potentially insolvent and where negligence standards may … deviate from the socially optimal level. We show that proportional liability, which sets the measure of damages equal to the … negligence-based rules. Moreover, proportional liability outperforms strict liability if the standard of due care is not set too …

In the theory of public enforcement of law the choice of the liability rules is between strict liability and fault …-based liability. In this paper, we study the determinants of compliance when in addition to standard economic incentives wrongdoers …

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 …

and by considering individuals' situation and economic circumstances. The economic theory provides determinants that are … obligations of insurance intermediaries and a liability rule to sanction violations. In order to interpret and substantiate the …

We analyze the effects of accidents and liability obligations on the incentives of car manufacturers to monopolize the … results is the observation that high prices for spare parts entail a negative external effect inasmuch as liability …