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 past few years have seen a growing trend towards the focus on audit liability. In the UK, the Company Law Reform … Bill which became the Companies Act 2006, has removed the previously existing limits on auditor liability and compelled an … agreement between the company and the auditor. As well as the UK, audit liability caps also currently exist in Austria, Belgium …

duties that have to be still established by law is of utmost importance. To avoid the dangers of an excessive liability by … kostenminimale Vermeidung von Schaden zu erreichen. Schlusselworter: gentechnikgesetz, haftung, koexistenz, vermarktungsschaden …