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This paper reports a rigorous experimental test of Pareto-damaging behaviors. We introduce a new graphical representation of dictator games with step-shaped sets of feasible payoffs to persons self and other on which strongly Pareto efficient allocations involve substantial inequality. The...
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"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. While conducting empirical work, researchers sometimes observe changes in behavior before the adoption of a new treatment program or...
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Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is … externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability …
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and by considering individuals' situation and economic circumstances. The economic theory provides determinants that are … obligations of insurance intermediaries and a liability rule to sanction violations. In order to interpret and substantiate the …
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