Product and Occupational Liability
Increased liability for risks posed by jobs and products has transformed the cost structure of job and product markets. Liability costs used to be an incidental expense; now they are a factor of substantial economic consequence. The costs associated with a more active economic role of liability are not necessarily undesirable. However, examination of the economic objectives of the liability system will indicate that the current structure is not ideal. Perhaps the most noteworthy feature of the emerging role of liability is that it has been contemporaneous with an expansion in governmental risk regulation. The subsequent sections explore the performance of product and occupational liability with respect to the objectives of efficient deterrence and insurance, in the context of seeking an optimal mix between legal and regulatory institutions.
Volume (Year): 5 (1991)
Issue (Month): 3 (Summer)
|Contact details of provider:|| Web page: https://www.aeaweb.org/jep/|
More information through EDIRC
|Order Information:||Web: https://www.aeaweb.org/subscribe.html|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Michael J. Moore & W. Kip Viscusi, 1989. "Promoting Safety through Workers' Compensation: The Efficacy and Net Wage Costs of Injury Insurance," RAND Journal of Economics, The RAND Corporation, vol. 20(4), pages 499-515, Winter.
- Broder, Ivy E, 1990. " The Cost of Accidental Death: A Capital Market Approach," Journal of Risk and Uncertainty, Springer, vol. 3(1), pages 51-63, March.
- Viscusi, W Kip, 1989. "The Interaction between Product Liability and Workers' Compensation as Ex Post Remedies for Workplace Injuries," Journal of Law, Economics and Organization, Oxford University Press, vol. 5(1), pages 185-210, Spring.
- Viscusi, W Kip & Hersch, Joni, 1990. "The Market Response to Product Safety Litigation," Journal of Regulatory Economics, Springer, vol. 2(3), pages 215-30, September.
When requesting a correction, please mention this item's handle: RePEc:aea:jecper:v:5:y:1991:i:3:p:71-91. See general 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: (Jane Voros)or (Michael P. Albert)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.