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. …

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. …

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. …

When liability for environmental spills, product failures, or other types of accidents is imposed on firms with … financial decisions in the face of liability, as well as the competitive pressures it faces in capital and output markets. By … fully offset by market power. Finally, by analysing how hazardous industries as a whole restructure in response to liability …