Limiting Limited Liability
AbstractLimited 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 cap can improve caretaking.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 11 (2006)
Issue (Month): 1 ()
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- K1 - Law and Economics - - Basic Areas of Law
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