In the economic analysis of liability law, information about accident risk and how it can be influenced by precautions … is commonly taken for granted. However, a profound understanding of the relationship between care and accident risk often … strict liability and negligence, showing that liability law may not induce efficient incentives. …

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 …

In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the … are not related to the occurrence of an accident. Such a mechanism requires individuals to violate the standard of care in …

Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is … externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability …

A growing body of literature suggests that courts and juries are inclined toward division of liability between two … strictly non-negligent or “vigilant” parties. However, standard models of liability rules do not provide for vigilance …-based sharing of liability. In this paper, we explore the economic efficiency of liability rules based on comparative vigilance. We …

. When both injurer and victim in an accident are negligent, it provides for liability shares that depend on the degrees of …In this paper we discuss a new tort liability rule, which we call super-symmetric comparative negligence and vigilance … negligence of the two parties, similar to the standard comparative negligence rule. Unlike standard liability rules, however …

reinforcement of physician liability for off-label use may be the preferred instrument for achieving dynamic efficiency. The … liability threat reduces the demand for off-label use, giving manufacturers an appropriate incentive to invest in extended … ; exclusivity ; liability …

We analyze liability rules in a setting where injurers are potentially insolvent and where negligence standards may … deviate from the socially optimal level. We show that proportional liability, which sets the measure of damages equal to the … negligence-based rules. Moreover, proportional liability outperforms strict liability if the standard of due care is not set too …