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 …

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

strengthens this ignorance strategy. Finally, we investigate the impact of existing liability rules on the innovator's decision to …

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 …

Strict liability is widely seen as the most suitable way to govern highly risky activities, such as environmentally … dangerous production or genetic engineering. The reason which is usually given for applying strict liability to these areas, is … liability but not via the negligence rule. In this paper, we show that the superiority of strict liability does no longer …

first, only the principal is strictly liable; in the second, only the agent is. We show that shifting the liability upon the … specific model we are able to characterize cases in which a reduction in cheating prevails, and shifting the liability upon the …

of which gives rise to an independent cause of action. When analyzed under finance theory, increased risk harms a person … markets. Lastly, this article suggests that the rules of liability and damages proposed here create the singular circumstance …