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. …

features: group lending with joint liability, progressive lending, back-ended subsidy, and social capital. We propose a new … model of SGSY having these features: group lending with individual liability, progressive lending, back-ended subsidy, and … social capital. "Joint liability" clause of the existing model is replaced with individual liability in the new model. The …

the firm among the creditors and the firm itself. Compared to standard bankruptcy games as studied in the game theory … literature, we introduce the firm as an explicit player and define a new class of transferable utility games called liability … games. Liability games are superadditive, constant sum, partially convex, and partially concave. The core of a liability …

the firm among the creditors and the firm itself. Compared to standard bankruptcy games as studied in the game theory … literature, we introduce the firm as an explicit player and define a new class of transferable utility games called liability … games. Liability games are superadditive, constant sum, partially convex, and partially concave. The core of a liability …