Liability Rules and Evolutionay Dynamics
AbstractWe consider the convergence properties of behavior under a comparative negligence rule (CN) and under a rule of negligence with contributory negligence (NCN), assuming bilateral care with three care levels. Using an evolutionary model, we show that CN reduces the proportion of the population using low care more rapidly than does NCN. However NCN increases the proportion of the population using high (efficient) care more rapidly than does CN. As a result, the mean care level increases more rapidly and the mean social cost falls more rapidly under CN than under NCN.
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Bibliographic InfoPaper provided by EconWPA in its series Law and Economics with number 0312001.
Length: 32 pages
Date of creation: 10 Dec 2003
Date of revision:
Note: Type of Document - pdf; prepared on win98; pages: 32. Published in Journal of Institutional and Theoretical Economics, 157 (4) Dec 2001
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tort law; evolutionary game; liability rules; economic analysis of law;
Other versions of this item:
- Mingli Zheng, 2001. "Liability Rules and Evolutionary Dynamics," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 157(4), pages 520-, December.
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- Steven Shavell, 2003.
"Economic Analysis of Accident Law,"
NBER Working Papers
9694, National Bureau of Economic Research, Inc.
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- Arlen, Jennifer H, 1992. "Liability for Physical Injury When Injurers as Well as Victims Suffer Losses," Journal of Law, Economics and Organization, Oxford University Press, vol. 8(2), pages 411-26, April.
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