In the law and economics literature the question of efficiency of liability rules has primarily been analyzed in the … liability with the defense of contributory negligence are efficient, the rules of no liability and strict liability are not …

This paper analyzes the meaning of comparing the economic performance of strict liability and negligence rule in a … injurers form beliefs. It shows first that, when the Court agrees with the regulator, whatever the liability regime, the first …, judge and regulator disagree, it is impossible to discriminate among liability standards because the issue depends on the …

In the law and economics literature liability is generally regarded as an instrument which provides potential … tortfeasors with incentives for optimal care taking. The question, however, arises whether liability can still provide those … of the art. After setting out the economic functions of liability rules and regulation the effects of missing information …

probability environments.This pattern of behavior not only mirrors the choice architecture of prospect theory, but it also … conservative decision-makers used fault, foreseeability and contributory liability to construct specific gain or loss frames for …