Is liability law a suitable instrument for controlling externalities? The optimistic view from the law and economics … literature conflicts with observed outcomes from jurisdictions relying on a tort-based procedure for controlling externalities …

's proportionate contribution to the externality. In this situation a strict liability law leads to short and long run efficiency only …It has been widely argued that tort law can provide an effective decentralizes mechanism by which a socially optimal …

's proportionate contribution to the externality. In this situation a strict liability law leads to short and long run efficiency only …It has been widely argued that tort law can provide an effective decentralizes mechanism by which a socially optimal …

liability bears primary responsibility for the cesarean section epidemic and that tort reform, which caps physician liability …

The present paper provides an economic analysis of vicarious liability that takes information rents and monitoring … costs to be borne by the principal explicitly into account. In the presence of information rents or if the principal is … wealth constrained herself, vicarious liability need not generate efficient precaution incentives. Rather, precaution …

Two methods for pricing an externality -taxes and strict liability- are modeled as lobbying contests with endogenous … numbers of participants. In the tax contest, a regulator is susceptible to lobbying by polluters and victims. Under liability …

Two methods for pricing an externality -taxes and strict liability- are modeled as lobbying contests with endogenous … numbers of participants. In the tax contest, a regulator is susceptible to lobbying by polluters and victims. Under liability …

In this paper, we argue that the joint use of ex-ante regulation and ex-post liability rules is efficient when there … are uncertainty surrounding causal investigations and regulatory myopia. As these conditions are generally met in … create a risk for the environment. Moreover, we suggest that a joint use of liability and regulation should more frequently …

uncertainty problems in liability. A widely held view among Law & Economics scholars is that civil liability alone is not well … civil liability rule, it is therefore advocated that a regulatory system be implemented combined with a public insurance … scheme, or, alternatively, to go for a mix of regulation and civil liability. Such a mix of regulation and civil liability …

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 …