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Duo Cum Faciunt Idem, Non Est Idem. Evidence from Austrian Pain and Suffering Verdicts

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Author Info

  • Leiter, Andrea M.

    ()
    (Department of Economics and Statistics, University of Innsbruck)

  • Thöni, Magdalena

    ()
    (Department for Human and Economic Sciences, University of Health Sciences, Medical Informatics and Technology (UMIT))

  • Winner, Hannes

    ()
    (University of Salzburg)

Abstract

We analyze the pricing of pain and suffering and, in particular, whether the corresponding compensations are affected by a court’s approach to value such damages. For this purpose, we use data on pain and suffering verdicts in Austria, where courts are generally free to choose between a per diem and a lump sum scheme to assess payments on damages for pain and suffering. We find significant higher payments under the lump sum regime, which are not vanishing even after controlling for individual- and injury-specific characteristics. Our evidence suggests that the observed difference between lump sum and per diem schemes mainly appears if the victims are female and exposed to multiple injuries and, to a lesser extent, to intensive past pain days.

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Bibliographic Info

Paper provided by University of Salzburg in its series Working Papers in Economics and Finance with number 2011-2.

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Length: 23 pages
Date of creation: 17 Feb 2011
Date of revision:
Handle: RePEc:ris:sbgwpe:2011_002

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Related research

Keywords: Tort Law; Per Diem Pain and Suffering Damages; Lump Sum Pain and Suffering Damages;

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