Dishonesty and Libel Law: The Economics of the "Chilling" Effect
AbstractIn this paper we primarily address the implications of the tort of defamation for the potential "chilling" effect by which the media are discouraged from exposing economic and political misdeeds. We argue that, in general, both the sanction for dishonesty and the compensation for defamation should not be too high. In terms of the model presented, the evidence seems to indicate that increasing the plaintiff's probability of winning is not a problem if the media are able to distinguish honesty from dishonesty (even if imperfectly), whereas it becomes welfare diminishing when that is not possible.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 155 (1999)
Issue (Month): 2 (June)
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- Bignon, Vincent & Flandreau, Marc, 2011.
"The Economics of Badmouthing: Libel Law and the Underworld of the Financial Press in France Before World War I,"
The Journal of Economic History,
Cambridge University Press, vol. 71(03), pages 616-653, September.
- Vincent Bignon, Marc Flandreau, 2010. "The Economics of Badmouthing: Libel Law and the Underworld of the Financial Press in France before World War I," IHEID Working Papers 15-2010, Economics Section, The Graduate Institute of International Studies.
- Vincent Bignon & Marc Flandreau, 2010. "The Economics of Badmouthing: Libel Law and the Underworld of the Financial Press in France before World War I," EconomiX Working Papers 2010-18, University of Paris West - Nanterre la Défense, EconomiX.
- Daniel Sutter, 2006. "Media scrutiny and the quality of public officials," Public Choice, Springer, vol. 129(1), pages 25-40, October.
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