Taxation, Fines, And Producer Liability Rules: Efficiency And Market Structure Implications
AbstractThis paper addresses the comparative efficiency of liability rules and regulatory policy in competitive equilibria with endogenous product safety. Pigouvian taxation fails to achieve long-run social optimality. A policy involving accident fines and safety subsidization can achieve efficiency, although the optimal policy may involve taxation, not subsidization, of product safety.
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Bibliographic InfoPaper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 1998 Annual meeting, August 2-5, Salt Lake City, UT with number 20928.
Date of creation: 1998
Date of revision:
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Other versions of this item:
- Stephen F. Hamilton, 1998. "Taxation, Fines, and Producer Liability Rules: Efficiency and Market Structure Implications," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 140-150, July.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ringleb, Al H & Wiggins, Steven N, 1990. "Liability and Large-Scale, Long-term Hazards," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(3), pages 574-95, June.
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- Hamada, Koichi, 1976. "Liability Rules and Income Distribution in Product Liability," American Economic Review, American Economic Association, vol. 66(1), pages 228-34, March.
- Ram Singh, 2009.
"RISK, INFORMATIONAL ASYMMETRY AND PRODUCT LIABILITY: An Enquiry Into Conflicting Objectives,"
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- 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.
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- Bruce Hay & Kathryn E. Spier, 2004. "Manufacturer Liability for Harms Caused by Consumers to Others," NBER Working Papers 10972, National Bureau of Economic Research, Inc.
- Stephan Marette & Estelle Gozlan & BÃ©nÃ©dicte Coestier, 2004.
"On the Limitation of Penalties and the Non-Equivalence of Penalties and Taxes,"
Working Papers, INRA, Economie Publique
2004/02, INRA, Economie Publique.
- StÃƒÂ©phan Marette & Estelle Gozlan & BÃƒÂ©nÃƒÂ©dicte Coestier, 2005. "On the Limitation of Penalties and the Non-Equivalence of Penalties and Taxes," European Journal of Law and Economics, Springer, Springer, vol. 19(1), pages 135-151, January.
- Stephan Marette & Estelle Gozlan & BÃ©nÃ©dicte Coestier, 2005. "On the limitation of penalties and the non-equivalence of penalties and taxes," Working Papers 156823, Institut National de la Recherche Agronomique, France.
- Bruce Hay & Kathryn E. Spier, 2005. "Manufacturer Liability for Harms Caused by Consumers to Others," American Economic Review, American Economic Association, vol. 95(5), pages 1700-1711, December.
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