This paper investigates cases in which harms are statistically correlated. When parties are risk averse, correlation … plays an important role in the choice between liability rules. Specifically, positively correlated harms favor a liability … rule that spreads the risk over a multitude of parties, as in the negligence rule. Negatively correlated harms favor a …

-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential …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 …

covered. The first is legal liability for harm. Here we discuss liability rules as incentives to reduce risk, issues of risk …-bearing and insurance, and the costs of the liability system. Second, we consider property law, where we address the nature and …

deafening if and when courts consider awarding punitives in what this article refers to as emerging, nontraditional, enterprise-liability …

This paper formally analyzes strict liability and negligence in a market setting. The discussion emphasizes the impact …

This paper formally analyzes strict liability and negligence in a market setting. The discussion emphasizes the impact …