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Vicarious Liability Under a Strict Liability Rule

Author

Listed:
  • Chun Se-Hak

    (Seoul National University of Science and Technology, Nowon-gu, Seoul, Korea)

  • Kim Jeong-Yoo

    (Department of Economics, Kyung Hee University, 1 Hoegidong, Dongdaemunku, Seoul130-701, Korea)

Abstract

In this article, we extend the model of Newman, H., and D. Wright. 1990. “Strict Liability in a Principal-Agent Model.” International Review of Law and Economics 10: 219–231 and strengthens their result that the strict liability can attain social optimum in a principal-agent relation to the situation in which the court appreciates any contractual terms regarding apportionment of damages between an employer and an employee under vicarious liability rule. Our model also generalizes and extends vicarious liability to the negligence-based liability rule.

Suggested Citation

  • Chun Se-Hak & Kim Jeong-Yoo, 2021. "Vicarious Liability Under a Strict Liability Rule," Asian Journal of Law and Economics, De Gruyter, vol. 12(3), pages 287-297, December.
    • Handle: RePEc:bpj:ajlecn:v:12:y:2021:i:3:p:287-297:n:3
    DOI: 10.1515/ajle-2021-0045
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    More about this item

    Keywords

    vicarious liability; strict liability; joint and several liability; negligence rule; judgement-proof;
    All these keywords.

    JEL classification:

    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics

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