Die Eigenschaften moderner Konsumgüter sind für die Konsumenten oft schwer einzuschätzen. Die Folgen sind Qualitätsunsicherheit und fehlerhafte Bewertungen der von den Produkten ausgehenden Gefahren. Informationsprobleme können ein "Marktversagen" begründen. -- Von den Autoren ist...

This paper describes the incentives for firms to seek voluntary product safety certifications. We consider a firm which makes the decision of whether or not to seek certification prior to selling the product. We show that, even when the firm and the consumers have same beliefs about the product...

In this chapter we consider how models of imperfect competition, developed by scholars working in industrial organization, provide insight into an important area of law: products liability (that is, liability for harms and losses associated with goods and services sold via markets). Remarkably,...