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courts, of no litigation costs and of no insurance. They assumed that the threat of tort liability can induce due (efficient … context, to insurance, to institutional liability, to the importance of experimental research and empirical data, and to the … alternatives to tort liability. Other traits of the mature economic analysis are recognition, even by its proponents, that actual …
Persistent link: https://www.econbiz.de/10012956878
Apologies have become very fashionable both within and outside the legal systems of the world. The common law world has attempted to encourage apologies by the use of protective legislation which aims to reduce litigation. Apologies can also be used as remedies and this article argues that the...
Persistent link: https://www.econbiz.de/10012908368
justice theory, Robert Stevens's rights theory, and Richard Posner's economic theory. This article begins by explaining why it …
Persistent link: https://www.econbiz.de/10012969497
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the heart of legal theory. Early economic analysis of tort law accomplished this fit through insistence on several … scholarship created a novel form of legal theory, intimately connecting legal scholarship with economic research. Once these … positive theory of tort law, which was the key element invigorating economic analysis as a legal theory …
Persistent link: https://www.econbiz.de/10013238499
The distribution of blockbuster punitive damages awards has fat tails similar to the distributions of losses from natural disasters. Extremely large awards occur more often and are more difficult to predict than if blockbuster awards were distributed normally. The size and predictability of...
Persistent link: https://www.econbiz.de/10013078700
compensate a larger number of injured plaintiffs under a rule of strict liability? Is the function of compensation instead … of compensation and deterrence do not obviously cohere into a viable theory of tort law, making the approach incoherent … does not limit liability to violations of conventional morality or customary practices in the community. For historical and …
Persistent link: https://www.econbiz.de/10013079178
From an economic perspective tort law is to serve two important functions: deterrence of wrongdoers and victim compensation. We can easily construct examples of torts leading to small and widespread harm for which it is questionable whether a rational victim will initiate an individual lawsuit....
Persistent link: https://www.econbiz.de/10012829901
details of liability regulation and taxation rules which German entrepreneurs face when choosing a particular legal form for … as forced liquidation. Firms under limited liability are characterized by higher growth and higher insolvency rates than … comparable firm under full liability. We also confirm the previously found negative relationship between employment growth and …
Persistent link: https://www.econbiz.de/10011622932