An Information Saving and Efficient Nuisance Rule
AbstractThe existing literature postulates that in nuisance suits courts should balance, for a property right under conflict, several values of the litigating parties. This practice, however, is controversial, mainly due to courts´ resource scarcity. This paper suggests an alternative institutional mechanism with which to relieve courts of various disputes and the potential demoralization arising from the judicial comparison of subjective values. It further submits that Posner's nuisance rule can be fully utilized under imperfect information.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 158 (2002)
Issue (Month): 3 (September)
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Web page: http://www.mohr.de/jite
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- K11 - Law and Economics - - Basic Areas of Law - - - Property Law
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
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- Iljoong Kim, 2008. "Securities laws â€˜facilitatingâ€™ private enforcement," European Journal of Law and Economics, Springer, vol. 25(1), pages 17-38, February.
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