percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …

percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …

economic theory to address this issue. We find that the relation between the appropriate compensation and the mean and median …

In this paper, we argue that the joint use of ex-ante regulation and ex-post liability rules is efficient when there … create a risk for the environment. Moreover, we suggest that a joint use of liability and regulation should more frequently …

We describe how product liability interacts with regulatory product approval in influencing a firm's incentives to … information acquisition incentives under both full and limited liability. We highlight efficiency inducing liability rules. …

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 …

This article compares the classic liability rules, negligence and strict liability, under the hypothesis that injurers … negligence is the optimal liability rule when injurers believe that the probability of harm is always higher than the victims do …, while strict liability with overcompensatory damages is the optimal rule in the opposite case. The same results apply to …