Customary versus Technological. Advancement Tests
AbstractIn an environment where the optimal level of care is unknown, we ask under a state of the art defense which method is better able to induce parties to undertake optimal care. Assuming courts can see a noisy signal of research activities undertaken by a defendant and some of its competitors, we ask whether courts should use a biased or unbiased average to compare care. We find that the later is better.
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Bibliographic InfoPaper provided by Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg in its series Working Papers of BETA with number 2006-12.
Date of creation: 2006
Date of revision:
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Tort law; standard of care; customary test; technological advancement test.;
Find related papers by JEL classification:
- K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
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