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This is a survey of legal liability for accidents. Three general aspects of accident liability are addressed. The first is the effect of liability on incentives, both whether to engage in activities (for instance, whether to drive) and how much care to exercise (at what speed to travel) to...
Persistent link: https://www.econbiz.de/10014023514
Externalities play a central role in most theories of economic growth. We argue that international externalities, in … have international knowledge externalities. When calibrated, the hybrid model does a surprisingly good job of generating …
Persistent link: https://www.econbiz.de/10014023776
We delineate the various ways in which rights to environmental and other resources can be assigned to individuals or groups. We then examine models of individual and group interactions, drawing out their implications for the ways in which resources will be utilized and managed under various...
Persistent link: https://www.econbiz.de/10014023942
capital spillovers can in theory increase aggregate productivity over and above the direct effect of human capital on … externalities that accrue to local geographic areas. The focus of the chapter is on the empirical issues that arise in identifying … these externalities and on the existing empirical evidence on their magnitude. …
Persistent link: https://www.econbiz.de/10014024011
from a societal perspective: ex ante moral hazard from health insurance, externalities from vaccinations, lack of consumer …
Persistent link: https://www.econbiz.de/10014024174
Military expenditure in developing countries raises complex questions regarding growth, development, security and governance. This chapter provides an analytical survey of the effects and causes of defense spending in developing economies. Using stylized facts, theoretical models and empirical...
Persistent link: https://www.econbiz.de/10014024420
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This paper revisits the path by which Coase developed the result now known as the Coase theorem, including the famous meeting at the home of Aaron Director during which Coase ‘converted’ a group of Chicago economists to his way of thinking. Drawing on published and archival sources, we...
Persistent link: https://www.econbiz.de/10014313950