In this paper Faure and Philipsen address price regulation and insurance for pharmaceuticals in the Netherlands. The authors first analyse, qualitatively, the complex regulatory framework and insurance for pharmaceuticals. After that, they examine the various actors in the drug distribution...

This chapter in a book on European product liability provides a summary of the economic approach to product liability. The economic theory of product liability based on the Coase Theorem is explained. Next, product liability when damage is suffered by third parties is analyzed. Specific...

In this paper, we study the law and economics of cyber risk pooling arrangements: risk sharing without an insurer. We start our discussion with the current theoretical foundations for risk shifting in cyber security. We subsequently discuss cyber risk pooling in relation to individual risk...

Over the last years, third-party financing (TPF) of litigation has received considerable attention from both legal commentators and economists. Legal commentators have mainly examined whether third-party litigation financing agreements violate the common law doctrines of maintenance and...

A smart mix of legal instruments is not new, but green building (GB) compliance is. As a way to environmental compliance in general, the mixing of instruments may also work to overcome the challenges facing GB compliance. The mix can be justified by the failings of government regulation,...

Traditional economic analysis of accident law has largely focused on individual utility maximising actors as potential injurers and victims. On that basis a huge literature has been developed since the early publications of Calabresi in the 1960's explaining under which conditions particular...

Several countries with large end-consumer markets for timber have the declared objective of supporting forest sustainability around the globe, but the world's most important forests are, in fact, outside their jurisdictions. Actions to protect these forests are therefore constrained by the legal...

Because legal insurance policies cover the expenses of plaintiffs in bringing legal claims, such policies increase the risk of negligent or careless acts by tortfeasors. For this reason, potential tortfeasors would prefer to avoid injuring holders of legal insurance policies. Since insurance...