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Efficiency of 'Simple' Liability Rules When Courts Make Erroneous Estimation of the Damage

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  • Ram Singh

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File URL: http://hdl.handle.net/10.1023/A:1023980208945
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Bibliographic Info

Article provided by Springer in its journal European Journal of Law and Economics.

Volume (Year): 16 (2003)
Issue (Month): 1 (July)
Pages: 39-58

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Handle: RePEc:kap:ejlwec:v:16:y:2003:i:1:p:39-58

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Web page: http://www.springerlink.com/link.asp?id=100264

Related research

Keywords: court errors; liability rules; simple liability rules; total social costs; efficient liability rules; negligent injurer's liability; Nash equilibrium;

References

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  1. Rasmusen, Eric, 1995. "Predictable and unpredictable error in tort awards: The effect of plaintiff self-selection and signaling," International Review of Law and Economics, Elsevier, vol. 15(3), pages 323-345, September.
  2. Louis Kaplow & Steven Shavell, 1996. "Accuracy in the Assessment of Damages," NBER Working Papers 4287, National Bureau of Economic Research, Inc.
  3. Alfred Endres & Andreas Lüdeke, 1998. "Limited Liability and Imperfect Information—On the Existence of Safety Equilibria Under Products Liability Law," European Journal of Law and Economics, Springer, vol. 5(2), pages 153-165, March.
  4. Jerry Green, 1976. "On the Optimal Structure of Liability Laws," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 553-574, Autumn.
  5. Kaplow, Louis, 1994. "The Value of Accuracy in Adjudication: An Economic Analysis," The Journal of Legal Studies, University of Chicago Press, vol. 23(1), pages 307-401, January.
  6. Peter Van Wijck & Jan Winters, 2001. "The Principle of Full Compensation in Tort Law," European Journal of Law and Economics, Springer, vol. 11(3), pages 319-332, May.
  7. Louis Kaplow & Steven Shavell, 1994. "Accuracy in the Determination of Liability," NBER Working Papers 4203, National Bureau of Economic Research, Inc.
  8. Kaplow, Louis & Shavell, Steven, 1992. "Private versus Socially Optimal Provision of Ex Ante Legal Advice," Journal of Law, Economics and Organization, Oxford University Press, vol. 8(2), pages 306-20, April.
  9. Craswell, Richard & Calfee, John E, 1986. "Deterrence and Uncertain Legal Standards," Journal of Law, Economics and Organization, Oxford University Press, vol. 2(2), pages 279-303, Fall.
  10. Kaplow, Louis, 1995. "A Model of the Optimal Complexity of Legal Rules," Journal of Law, Economics and Organization, Oxford University Press, vol. 11(1), pages 150-63, April.
  11. Louis Kaplow & Steven Shavell, 1999. "Economic Analysis of Law," NBER Working Papers 6960, National Bureau of Economic Research, Inc.
  12. A. Mitchell Polinsky, 1980. "Strict Liability versus Negligence in a Market Setting," NBER Working Papers 0420, National Bureau of Economic Research, Inc.
  13. Miceli, Thomas J., 1997. "Economics of the Law: Torts, Contracts, Property, Litigation," OUP Catalogue, Oxford University Press, number 9780195103908, September.
  14. Feldman, Allan M. & Frost, John M., 1998. "A simple model of efficient tort liability rules," International Review of Law and Economics, Elsevier, vol. 18(2), pages 201-215, June.
  15. Miceli, Thomas J, 1990. "Optimal Prosecution of Defendants Whose Guilt Is Uncertain," Journal of Law, Economics and Organization, Oxford University Press, vol. 6(1), pages 189-201, Spring.
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Citations

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Cited by:
  1. repec:ebl:ecbull:v:11:y:2007:i:2:p:1-7 is not listed on IDEAS
  2. Ram Singh, 2008. "Risk, Informational Asymmetry and Product Liability; An enquiry into conflicting objectives," Working papers 164, Centre for Development Economics, Delhi School of Economics.
  3. Ram Singh, 2004. "‘Full’ Compensation Criteria: An Enquiry into Relative Merits," European Journal of Law and Economics, Springer, vol. 18(2), pages 223-237, September.

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