Precaution Incentives in Accident Settings
Language: English
Published by Gabler Verlag, 2008
- Softcover
- New
Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH
AbeBooks seller since August 14, 2006
Condition: New
£ 53.47
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Add to basketItem description from seller
Druck auf Anfrage Neuware - Printed after ordering - Law and economics has been established as an important sub-discipline of economics. Looking at the eld, it is undisputed that the economics of tort law has been the subject of much study early on and continues to be. The analysis in that realm is centered on the internalization of external e ects by the means of liability law, i.e. the allocation of a liability burden possibly depending on the behavior of parties involved in an accident. In the by now standard framework, introduced by path-breaking contributions such as Calabresi (1970) and Brown (1973), the outcome with regard to care-taking (and possibly the level of activity) under several liability rules, which are actually observed in practice, is compared to what is socially desirable. The objective of society usually is assumed to be wealth maximization. The set of results which may be called the central theory show that liability rules can indeed induce rst-best behavior by parties, as long as several core assumptions hold. After the central theory of the economics of tort law had been settled, contributors to the literature started to test the robustness of the conclusions obtained when these core assumptions are varied. The existent literature on the economics of tort law is rich and diverse. Yet, without doubt, there are still numerous questions in the eld which need to be answered and therefore require scholarly attention. The present book rightfully goes along that path. In a collection of chapters, di erent subjects are examined from a theoretical standpoint.…
Seller Inventory # 9783834912923
- Title
- Precaution Incentives in Accident Settings
- Author
- Tim Friehe
- Publisher
- Gabler Verlag
- Publication year
- 2008
- Condition
- Neu
- Binding
- Taschenbuch
- Language
- English
- ISBN 10
- 3834912921
- ISBN 13
- 9783834912923
- Item weight
- 271 grams
- Dimensions
- 210x148x12 mm
Tim Friehe analyzes important aspects for the design of tort law which intends to induce optimal individual choices and possible limitations of workable tort law in varied settings. Incentives to take precaution, which affect the accident probability and/or the magnitude of the harm in the event of an accident, are of primary interest in this context. After providing an extensive review of the literature relating to the economic analysis of tort law, the author goes on to discuss the consequences of victims with different harm levels. In particular, using average harm as a compensation measure in order to save administrative costs is considered and a scheme to make the revelation of the individual harm level incentive-compatible is devised. Furthermore, the book contributes to the ongoing discussion on the effects of judgment proofness and the distinction between unilateral harm and bilateral harm accidents. Finally, the author highlights the consequences of the consideration of hitherto neglected behavioral dimensions for the conclusions of the economic analysis of tort law.
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About the Author
"About the title" may belong to another edition of this title.
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