equilibrium levels of safety and activity from the product’s usage under no liability, strict liability, and negligence rule. We …We contrast alternative liability rules for social control of product risks when heterogeneous consumers considering …’ mispredictions vary with the prevailing liability regime. We first characterize the consumers’ purchasing decision and the …

equilibrium levels of safety and activity from the product's usage under no liability, strict liability, and negligence rule. We …We contrast alternative liability rules for social control of product risks when heterogeneous consumers considering …' mispredictions vary with the prevailing liability regime. We first characterize the consumers' purchasing decision and the …

equilibrium levels of safety and activity from the product's usage under no liability, strict liability, and negligence rule. We …We contrast alternative liability rules for social control of product risks when heterogeneous consumers considering …' mispredictions vary with the prevailing liability regime. We first characterize the consumers' purchasing decision and the …

, we contrast producer liability and minimum quality standard regulation as alternative means of social control of product … relative desirability of strict liability vis-à-vis minimum quality standard regulation from a social welfare standpoint. We … also clarify when and why joint use of strict liability and minimum quality standard regulation welfare dominates the …

organization, provide insight into an important area of law: products liability (that is, liability for harms and losses associated … with goods and services sold via markets). Remarkably, traditional law and economics (L&E) analyses of products liability … generally find no role for the influence of market structure or strategic interaction on liability policy. After briefly …

This is a survey of legal liability for accidents. Three general aspects of accident liability are addressed. The first … is the effect of liability on incentives, both whether to engage in activities (for instance, whether to drive) and how …-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential …

workplace safety levels. After developing the economic theory of how labor and product markets pair prices and health risks we … then explain the effects of the relevant government policies, including information, tort liability laws, direct regulation …

This paper analyzes the workings of liability when harm-inflicting consumers are present biased and both product safety … the manufacturer, in stark contrast with the baseline scenario in which strict consumer liability induces socially optimal … product safety and precaution levels. In addition, we establish that strict liability with contributory negligence may induce …

competition. -- product liability ; product safety ; market power ; level of damages ; punitive damages …

In this paper, we examine the link between innovative activity on the part of firms, the competitive pressure to … introduce innovations and optimal damages awards. While innovative activity brings forth valuable new products for consumers …