In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the … are not related to the occurrence of an accident. Such a mechanism requires individuals to violate the standard of care in …

In a world with risk-neutral agents, liability rules will only induce efficient behavior if these rules impose the full … related to the occurrence of an accident. Such a mechanism requires individuals to violate the standard of care in order to …

In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the … are not related to the occurrence of an accident. Such a mechanism requires individuals to violate the standard of care in …

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. …

In a world with risk-neutral agents in which accidents occur with a positive probability, liability rules will only … which guarantees an efficient outcome: monetary fines which are not related to the occurrence of an accident. Such a …