exogenous change in the liability structure offered by a microfinance program in India, which shifted from individual to group … liability lending. We find evidence that the lending model matters: for the same borrower, the required monthly loan … installments are 11 percent less likely to be missed under the group liability setting in comparison with individual liability. In …

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 …

liability rule as opposed to a property rule in instances of infringement …