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Courts apply compensatory damages, restitution, and punitive damages to formulate litigants' civil remedies. The frequently contested policy justifications for these three remedies are often hazy and uncertain. The transitions between the three remedies are disputed. Lawyers and courts often...
Persistent link: https://www.econbiz.de/10013123105
This chapter presents a strategic model of incentives for care and litigation under asymmetric information and self-serving bias, and studies the effects of damage caps. Our main findings are as follows. First, our results suggest that the defendant's bias decreases his expenditures on accident...
Persistent link: https://www.econbiz.de/10013099050
The previous literature on comparative and contributory negligence points out that administrative costs are higher under comparative negligence because the courts must decide on the degree of negligence by both parties and not just whether the parties were negligent. In this article, I show that...
Persistent link: https://www.econbiz.de/10013099304
This article examines the procedures for determining damages in tort cases and assesses the empirical characteristics of these damages. Damages for economic loss involve noncontroversial economic concepts that seek to make the victim whole from a financial standpoint. Nevertheless, there is...
Persistent link: https://www.econbiz.de/10013112559
In the United States insurance is regulated both by state insurance commissions and class action litigation. The interaction of these two systems has not been extensively studied. We examine four different facets of the regulation litigation tradeoff. The first is to examine whether a...
Persistent link: https://www.econbiz.de/10013151431
This note critically comments on the Court of Appeal's decision in OMV Petrom SA v Glencore International AG. By introducing a penal element to the enhanced interest rate pursuant to CPR Pt 36, the Court of Appeal has extended the justificatory reasons for those awards beyond compensation. This...
Persistent link: https://www.econbiz.de/10012891816
Courts assessing compensatory damages awards often lack adequate information to determine the value of a victim's loss. A central reason for this problem, which the literature has thus far overlooked, is that courts face a dilemma when applying their standard information-forcing tool to the...
Persistent link: https://www.econbiz.de/10012935655
Laws governing relations between spouses have undergone profound changes that continue to revolutionize the standards and procedures for dissolutions of marriage. The most dramatic changes in divorce law have come from the advent of no-fault divorce, the decline in spousal maintenance awards,...
Persistent link: https://www.econbiz.de/10012771951
A pharmacist fills a prescription for birth control pills with prenatal vitamins. An in vitro lab loses a cancer survivor's eggs. A fertility clinic exposes embryos to mad cow disease. A sperm bank switches a selected sample with one from a donor of a different race. An obstetrician predicts...
Persistent link: https://www.econbiz.de/10012969620
State punitive damages reforms have altered how courts award punitive damages. We model the decision to award punitive damages as a two-step process involving the decision to award any punitive damages and the decision of what amount to award. For the Civil Justice Survey of State Courts samples...
Persistent link: https://www.econbiz.de/10012978339