A free-market view on accidents and torts
AbstractThis paper analyzes the role of uncertain costs and liability in the free market context and compares it with Calabresi’s approach. Contrary to the mainstream literature, the free-market view claims that property rights should not be tampered with, that the tort-feasor should always be held liable and that the presence of unknown costs (accidents) makes no difference. In particular, bad luck is not enough to justify a claim on society. It is observed that Calabresi reaches the same conclusions as far as non-accidental costs are concerned, but tends to diverge from the free-market position in the presence of accidents. These views are illustrated by examining the respondeat superior doctrine and their implications are further developed by considering the case for unlimited liability.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Institute of Public Policy and Public Choice - POLIS in its series IEL Working Papers with number 16.
Length: 26 pages
Date of creation: Jun 2013
Date of revision:
Contact details of provider:
Web page: http://polis.unipmn.it
accidents; respondeat superior; unlimited liability; social responsibility;
Find related papers by JEL classification:
- K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
- K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lucia Padovani).
If references are entirely missing, you can add them using this form.