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This paper analyzes liability rules when consumers and third parties/the environment incur harm. Expected harm is convex in the level of output and modeled as a power function. We show that the social ranking of liability rules previously established for the case in which only consumers suffer...
Persistent link: https://www.econbiz.de/10012623085
This paper analyzes liability rules when consumers and third parties/the environment incur harm. Expected harm is convex in the level of output and modeled as a power function. We show that the social ranking of liability rules previously established for the case in which only consumers suffer...
Persistent link: https://www.econbiz.de/10014501802
Persistent link: https://www.econbiz.de/10012795151
Persistent link: https://www.econbiz.de/10012242179
Persistent link: https://www.econbiz.de/10011850080
This paper analyzes liability rules when consumers and third parties/the environment incur harm. Expected harm is convex in the level of output and modeled as a power function. We show that the social ranking of liability rules previously established for the case in which only consumers suffer...
Persistent link: https://www.econbiz.de/10013329736