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.
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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:
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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
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