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In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the …
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liability rules on incentives to reduce accident risks. Then consideration of accident law is broadened (chapter 5) to reflect … the effect of liability rules on compensation of victims and the allocation of risk. In this regard a central issue is the … roles of victims' insurance and of liability insurance, and how they alter the incentives inherent in liability rules …
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directly contrasts the intent of the Montreal Convention's creators, who wanted to limit carrier liability to foster the …
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As economic restructuring was changing many state functions, the New Zealand Law Commission under the Presidency of Sir Owen Woodhouse undertook its own review of ACC, vigorously reaffirming the Woodhouse principles in its 1988 Report, while proposing further extensions of the scheme. This...
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