The interaction between habit formation and pollution-type ex- ternalities modifies the social optimum through discount …

externalities: congestion, which has a feedback effect on the behaviour of the economic agents, air pollution and accidents. The … welfare effects of small policy changes in the presence of transport externalities. The model incorporates three types of … a model in which congestion, air pollution and accidents are assumed to remain constant at their initial level. The …

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. …

The present paper provides an economic analysis of vicarious liability that takes information rents and monitoring … wealth constrained herself, vicarious liability need not generate efficient precaution incentives. Rather, precaution … regimes: strict liability, the traditional negligence rule, and proportional liability. To do so, I make use of the intensity …

This paper views authority as the right to undertake decisions that impose externalities on other members of the …