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On the incentive effects of damage averaging in tort law

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Author Info
Tim Friehe () (Eberhard Karls University, Tübingen)

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Abstract

It has been generally accepted for unilateral-care models that care incentives are not affected by the use of either accurate damages or average damages if injurers lack knowledge of the precise damage level they might cause. This paper shows that in bilateral-care models with heterogeneous victims, consequences of averages as damage measure are critically dependent on the weighing of respective harm levels. Importantly, we establish that there is an average measure which allows the attainment of efficient care in the bilateral-care framework.

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File URL: http://economicsbulletin.vanderbilt.edu/2007/volume11/EB-07K10002A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 11 (2007)
Issue (Month): 2 ()
Pages: 1-7
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:v:11:y:2007:i:2:p:1-7

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Postal: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA
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Web page: http://www.economicsbulletin.com

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Related research
Keywords: accuracy; average harm; care interdependency; expected damages;

Find related papers by JEL classification:
K1 - Law and Economics - - Basic Areas of Law
D6 - Microeconomics - - Welfare Economics

References listed on IDEAS
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  1. Marceau, Nicolas & Mongrain, Steeve, 2003. "Damage averaging and the formation of class action suits," International Review of Law and Economics, Elsevier, vol. 23(1), pages 63-74, March. [Downloadable!] (restricted)
    Other versions:
  2. Louis Kaplow & Steven Shavell, 1996. "Accuracy in the Assessment of Damages," NBER Working Papers 4287, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Che, Yeon-Koo, 1996. "Equilibrium formation of class action suits," Journal of Public Economics, Elsevier, vol. 62(3), pages 339-361, November. [Downloadable!] (restricted)
  4. Juan José Ganuza & Fernando Gómez, 2002. "Caution, Children Crossing: Heterogeneity of Victim's Cost of Care and Negligence Rule," Economics Working Papers 666, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
  5. Thomas J. Miceli, 2006. "On Negligence Rules and Self-Selection," Working papers 2006-26, University of Connecticut, Department of Economics. [Downloadable!]
  6. Ram Singh, 2003. "Efficiency of 'Simple' Liability Rules When Courts Make Erroneous Estimation of the Damage," European Journal of Law and Economics, Springer, vol. 16(1), pages 39-58, July. [Downloadable!] (restricted)
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This page was last updated on 2009-11-16.

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