determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … higher efficiency as long as liability is violated. …

We analyze the effects of accidents and liability obligations on the incentives of car manufacturers to monopolize the … external effect inasmuch as liability obligations imply that consumers of competing products have to pay the high prices as …

reinforcement of physician liability for off-label use may be the preferred instrument for achieving dynamic efficiency. The … liability threat reduces the demand for off-label use, giving manufacturers an appropriate incentive to invest in extended …

determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … higher efficiency as long as liability is violated. …

Car owners are liable for property damage inflicted on other motorists. In most countries such liability must be … links between liability rules and vehicle choice. It presumes cooperative insurance, but non-cooperative acquisition of … vehicles. Thus, the Nash equilibrium and its degree of efficiency depend on the liability regime. …

– game theory is a useful set of tools for better understanding different risk settings. Embedded in a short history of the … Basel Accord in this article we introduce some basic ideas of game theory in the context of rating procedures in accordance … with Basel II. As well, some insight is given how game theory works. Here, the primary value of game theory stems from its …

need an approach explaining interdependent actions. Game theory is in a position to offer proper olutions. This paper …