Shavell, Steven - In: Handbook of law and economics : volume 1, (pp. 139-182). 2007
-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential … injurers (because they may have to pay judgments to victims). In this regard, victims' accident insurance and injurers …' liability insurance are taken into account. The third general aspect of accident liability is its administrative expense …