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Effects of Court Errors on Efficiency of Liability Rules: When Individuals are Imperfectly Informed

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  • Ram Singh

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Abstract

The aim of this paper is to study the effects of court errors in estimating the harm, on the parties' behaviour regarding the levels of care they take, and their decision to buy the information about the court errors. The analysis is carried out in a unified framework. [CDE-DSE WP no. 97].

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Bibliographic Info

Paper provided by eSocialSciences in its series Working Papers with number id:2291.

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Date of creation: Nov 2009
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Handle: RePEc:ess:wpaper:id:2291

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Keywords: information; victim; liability paymentsocial costs; court errors; decision;

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  1. Kaplow, Louis, 1995. "A Model of the Optimal Complexity of Legal Rules," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 11(1), pages 150-63, April.
  2. Louis Kaplow & Steven Shavell, 1993. "Accuracy in the Assessment of Damages," NBER Working Papers 4287, National Bureau of Economic Research, Inc.
  3. Miceli, Thomas J., 1997. "Economics of the Law: Torts, Contracts, Property, Litigation," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780195103908, October.
  4. Rasmusen, Eric, 1995. "Predictable and unpredictable error in tort awards: The effect of plaintiff self-selection and signaling," International Review of Law and Economics, Elsevier, Elsevier, vol. 15(3), pages 323-345, September.
  5. Kaplow, Louis & Shavell, Steven, 1992. "Private versus Socially Optimal Provision of Ex Ante Legal Advice," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 8(2), pages 306-20, April.
  6. Kaplow, Louis & Shavell, Steven, 1994. "Accuracy in the Determination of Liability," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 37(1), pages 1-15, April.
  7. Steven Shavell, 2003. "Economic Analysis of Accident Law," NBER Working Papers 9483, National Bureau of Economic Research, Inc.
  8. Louis Kaplow, 1992. "A Model of the Optimal Complexity of Rules," NBER Working Papers 3958, National Bureau of Economic Research, Inc.
  9. Miceli, Thomas J, 1990. "Optimal Prosecution of Defendants Whose Guilt Is Uncertain," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 6(1), pages 189-201, Spring.
  10. Polinsky, A Mitchell & Shavell, Steven, 1989. "Legal Error, Litigation, and the Incentive to Obey the Law," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 5(1), pages 99-108, Spring.
  11. Kaplow, Louis, 1994. "The Value of Accuracy in Adjudication: An Economic Analysis," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 23(1), pages 307-401, January.
  12. Craswell, Richard & Calfee, John E, 1986. "Deterrence and Uncertain Legal Standards," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 2(2), pages 279-303, Fall.
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