importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … help to explain the observed predominance of liability over taxation, except in the area of pollution. The following …

importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … help to explain the observed predominance of liability over taxation, except in the area of pollution. The following …

In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the …

In a world with risk-neutral agents, liability rules will only induce efficient behavior if these rules impose the full …

In a world with risk-neutral agents in which accidents occur with a positive probability, liability rules will only …