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 …

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 …

A growing body of literature suggests that courts and juries are inclined toward division of liability between two … strictly non-negligent or “vigilant” parties. However, standard models of liability rules do not provide for vigilance …-based sharing of liability. In this paper, we explore the economic efficiency of liability rules based on comparative vigilance. We …

In this paper we discuss a new tort liability rule, which we call super-symmetric comparative negligence and vigilance …. When both injurer and victim in an accident are negligent, it provides for liability shares that depend on the degrees of … negligence of the two parties, similar to the standard comparative negligence rule. Unlike standard liability rules, however …

reinforcement of physician liability for off-label use may be the preferred instrument for achieving dynamic efficiency. The … liability threat reduces the demand for off-label use, giving manufacturers an appropriate incentive to invest in extended … ; exclusivity ; 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 …

The present paper provides an economic analysis of vicarious liability that takes information rents and monitoring … wealth constrained herself, vicarious liability need not generate efficient precaution incentives. Rather, precaution … regimes: strict liability, the traditional negligence rule, and proportional liability. To do so, I make use of the intensity …

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

In the economic analysis of liability law, information about accident risk and how it can be influenced by precautions … strict liability and negligence, showing that liability law may not induce efficient incentives. …