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 …

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 …

the case with toxic torts. Risk aversion and ambiguity aversion tend to have a similar impact on optimal liability rules … liability dominates negligence when the injurer has lower degrees of risk and ambiguity aversion than the victim and can …

the case with toxic torts. Risk aversion and ambiguity aversion tend to have a similar impact on optimal liability rules … liability dominates negligence when the injurer has lower degrees of risk and ambiguity aversion than the victim and can … revised version of this paper has been published in the American Law and Economics Review under the title: "Liability law …

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 …

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

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 …

Law and economics are both hostile to liability for exposure to risk without actual harm. Harm is the foundation of …