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A Note on the Social versus Private Value of Suits when Care is Bilateral

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  • Miceli Thomas J.

    (University of Connecticut)

Abstract

This paper re-examines the social versus private value of lawsuits when both injurers and victims can take care. The basic conclusions of that literature remain valid in this context: the private and social values generally differ, and there is no necessary relationship between them, meaning that there may be either too many or too few suits. Introducing the possibility of victim care does, however, alter the calculation of the deterrent effect of lawsuits. In particular, because allowing suits tends to reduce the incentives for victims to invest in precaution, the social value of prohibiting suits increases in direct relation to the productivity of victim care in lowering accident risk.

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File URL: http://www.degruyter.com/view/j/rle.2008.4.1/rle.2008.4.1.1289/rle.2008.4.1.1289.xml?format=INT
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Bibliographic Info

Article provided by De Gruyter in its journal Review of Law & Economics.

Volume (Year): 4 (2008)
Issue (Month): 1 (October)
Pages: 373-382

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Handle: RePEc:bpj:rlecon:v:4:y:2008:i:1:n:17

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  1. A. Mitchell Polinsky & Yeon-Koo Che, 1991. "Decoupling Liability: Optimal Incentives for Care and Litigation," RAND Journal of Economics, The RAND Corporation, vol. 22(4), pages 562-570, Winter.
  2. Shavell, Steven, 1999. "The level of litigation: private versus social optimality of suit and of settlement," International Review of Law and Economics, Elsevier, vol. 19(1), pages 99-115, March.
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