Liability Rules and Evolutionary Dynamics
AbstractWe consider the convergence properties of behavior under a comparative negligence rule (CN) and under a rule of negligence with contributory negligence (NCN), assuming bilateral care with three care levels. Using an evolutionary model, we show that CN reduces the proportion of the population using low care more rapidly than does NCN. However, NCN increases the proportion of the population using high (efficient) care more rapidly than does CN. As a result, the mean care level increases more rapidly and the mean social cost falls more rapidly under CN than under NCN.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 157 (2001)
Issue (Month): 4 (December)
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Other versions of this item:JEL classification:
- K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
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