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 …

We analyze liability rules in a setting where injurers are potentially insolvent and where negligence standards may … deviate from the socially optimal level. We show that proportional liability, which sets the measure of damages equal to the … negligence-based rules. Moreover, proportional liability outperforms strict liability if the standard of due care is not set too …

example of a pre-Bankruptcy Code resolution of a mass tort through an insolvency scheme. The Comment agrees with McKenzie …

United States, the potential mechanisms for addressing mass tort liability as well as their shortcomings, the tools available … related claims for resolution in a single forum through litigation of common threshold issues of liability. The Article …

We analyze liability rules in a setting where injurers are potentially insolvent and where negligence standards may … deviate from the socially optimal level. We show that proportional liability, which sets the measure of damages equal to the … negligence-based rules. Moreover, proportional liability outperforms strict liability if the standard of due care is not set too …

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 …

). Finally, we offer considerations on the optimal design of liability rules. …

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 …

the case with toxic torts. Risk aversion and ambiguity aversion tend to have a similar impact on optimal liability rules … liability dominates negligence when the injurer has lower degrees of risk and ambiguity aversion than the victim and can …

plays an important role in the choice between liability rules. Specifically, positively correlated harms favor a liability … liability rule that pools risks together, as in strict liability. The same applies when parties can purchase costly insurance … (first party or third party). This policy recommendation is in line with current products liability law, which places design …