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On The Existence and Efficiency of Equilibria Under Liability Rules

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  • Ram Singh

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Abstract

The first objective of this paper is to contribute to the debate regarding the desirability of the sharing of liability for the accident loss. The second objective is to extend the efficiency analysis beyond Shavell (1980, 1987) and Miceli (1997), to search for the second-best liability rules. [WP no. 150].

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Bibliographic Info

Paper provided by eSocialSciences in its series Working Papers with number id:1716.

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Date of creation: Oct 2008
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Handle: RePEc:ess:wpaper:id:1716

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Related research

Keywords: economic anlaysis; Liability rules; negligence liability; comparative liability; accident loss; loss sharing; social welfare; first best; second best; Nash equilibrium; incentives; probability; motor vehicle; victim;

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References

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  1. Chung, Tai-Yeong, 1993. "Efficiency of Comparative Negligence: A Game Theoretic Analysis," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 22(2), pages 395-404, June.
  2. Feldman, Allan M. & Frost, John M., 1998. "A simple model of efficient tort liability rules," International Review of Law and Economics, Elsevier, Elsevier, vol. 18(2), pages 201-215, June.
  3. Arlen, Jennifer H., 1990. "Re-examining liability rules when injurers as well as victims suffer losses," International Review of Law and Economics, Elsevier, Elsevier, vol. 10(3), pages 233-239, December.
  4. Paul Burrows, 1999. "A Deferential Role for Efficiency Theory in Analysing Causation-Based Tort Law," European Journal of Law and Economics, Springer, Springer, vol. 8(1), pages 29-49, July.
  5. Hindley, Brian & Bishop, Bill, 1983. "Accident liability rules and externality," International Review of Law and Economics, Elsevier, Elsevier, vol. 3(1), pages 59-68, June.
  6. Polinsky, A Mitchell, 1980. "Strict Liability vs. Negligence in a Market Setting," American Economic Review, American Economic Association, American Economic Association, vol. 70(2), pages 363-67, May.
  7. Laszlo Goerke, 2002. "Accident Law: Efficiency May Require an Inefficient Standard," German Economic Review, Verein für Socialpolitik, Verein für Socialpolitik, vol. 3(1), pages 43-51, 02.
  8. Dhammika Dharmapala & Sandra A. Hoffmann, 2002. "Bilateral Accidents with Intrinsically Interdependent Costs of Precaution," Working papers, University of Connecticut, Department of Economics 2002-11, University of Connecticut, Department of Economics.
  9. Emons, Winand & Sobel, Joel, 1991. "On the Effectiveness of Liability Rules when Agents Are Not Identical," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 58(2), pages 375-90, April.
  10. Steven Shavell, 2003. "Economic Analysis of Accident Law," NBER Working Papers, National Bureau of Economic Research, Inc 9694, National Bureau of Economic Research, Inc.
  11. David Kaye & Mikel Aickin, 1984. "A Comment on Causal Apportionment," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 13(1), pages 191-208, January.
  12. Kahan, Marcel, 1989. "Causation and Incentives to Take Care under the Negligence Rule," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 18(2), pages 427-47, June.
  13. Aaron S. Edlin., 1993. "Efficient Standards of Due Care: Should Courts Find More Parties Negligent Under Comparative Negligence?," Economics Working Papers, University of California at Berkeley 93-218, University of California at Berkeley.
  14. Miceli, Thomas J., 1997. "Economics of the Law: Torts, Contracts, Property, Litigation," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780195103908, October.
  15. Singh Ram, 2007. "Comparative Causation and Economic Efficiency: When Activity Levels are Constant," Review of Law & Economics, De Gruyter, De Gruyter, vol. 3(2), pages 383-406, December.
  16. Emons, Winand, 1990. "Efficient liability rules for an economy with non-identical individuals," Journal of Public Economics, Elsevier, Elsevier, vol. 42(1), pages 89-104, June.
  17. Francesco Parisi, 2004. "Comparative Causation," American Law and Economics Review, Oxford University Press, Oxford University Press, vol. 6(2), pages 345-368.
  18. Emons,Winand, 1988. "Efficient liability rules for an economy," Discussion Paper Serie A, University of Bonn, Germany 213, University of Bonn, Germany.
  19. Yu-Ping Liao & Michelle J. White, 2002. "No-Fault for Motor Vehicles: An Economic Analysis," American Law and Economics Review, Oxford University Press, Oxford University Press, vol. 4(2), pages 258-294.
  20. Oren Bar-Gill & Omri Ben-Shahar, 2003. "The Uneasy Case for Comparative Negligence," American Law and Economics Review, Oxford University Press, Oxford University Press, vol. 5(2), pages 433-469, August.
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Citations

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Cited by:
  1. Parisi Francesco & Singh Ram, 2010. "The Efficiency of Comparative Causation," Review of Law & Economics, De Gruyter, De Gruyter, vol. 6(2), pages 219-245, September.
  2. FRANCESCO PARISI & Ram Singh, 2009. "Efficiency Of Equilibria Under Comparative Causation," Working papers, Centre for Development Economics, Delhi School of Economics 179, Centre for Development Economics, Delhi School of Economics.
  3. Allan M Feldman & Ram Singh, 2008. "Comparative Vigilance," Working Papers, Brown University, Department of Economics 2008-9, Brown University, Department of Economics.
  4. Allan M Feldman & Ram Singh, 2008. "Comparative Vigilance: a Simple Guide," Working Papers, Brown University, Department of Economics 2008-11, Brown University, Department of Economics.

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