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On the efficiency of the negligence rule

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  • Satish Jain

Abstract

The three versions of the negligence rule discussed in the literature differ regarding whether a negligent injurer is liable for the entire loss or only for the incremental loss; or regarding whether negligence is defined as failure to take at least due care or failure to take a cost-justified precaution. It is shown in the paper that the incremental version with untaken precaution notion of negligence is not efficient; not even for the unilateral case. The paper also establishes, for the bilateral case, the efficiency of the incremental version with the shortfall-from-due-care way of defining negligence.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/17487870.2010.523972
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.

Volume (Year): 13 (2010)
Issue (Month): 4 ()
Pages: 343-359

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Handle: RePEc:taf:jpolrf:v:13:y:2010:i:4:p:343-359

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Related research

Keywords: standard negligence rule; incremental negligence rule; negligence as shortfall from due care; negligence as existence of a cost-justified untaken precaution; efficiency; strategic manipulability;

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