incentives to reduce risk of various ways of treating such uncertainty under the liability system are identified using a … a criterion for determining liability may adversely affect behavior: parties might face a diminished burden of liability … (if their probability of causation systematically fell below the threshold) and thus do too little to reduce risk; or they …

create a risk for the environment. Moreover, we suggest that a joint use of liability and regulation should more frequently …In this paper, we argue that the joint use of ex-ante regulation and ex-post liability rules is efficient when there …

economic theory to address this issue. We find that the relation between the appropriate compensation and the mean and median …, as well as the degree of risk aversion. Since the consumption uncertainty associated with compensation generally exceeds …

percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …

percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …