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Optimal liability with stochastic harms, judgement-proof injurers, and asymmetric information1

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  • Innes, Robert

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  • Innes, Robert, 1999. "Optimal liability with stochastic harms, judgement-proof injurers, and asymmetric information1," International Review of Law and Economics, Elsevier, vol. 19(2), pages 181-203, June.
  • Handle: RePEc:eee:irlaec:v:19:y:1999:i:2:p:181-203
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    References listed on IDEAS

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    1. Polinsky, A Mitchell, 1980. "Strict Liability vs. Negligence in a Market Setting," American Economic Review, American Economic Association, vol. 70(2), pages 363-367, May.
    2. Peter A. Diamond, 1974. "Single Activity Accidents," The Journal of Legal Studies, University of Chicago Press, vol. 3(1), pages 107-164, January.
    3. Rose-Ackerman, Susan, 1991. "Regulation and the Law of Torts," American Economic Review, American Economic Association, vol. 81(2), pages 54-58, May.
    4. Lucian Arye Bebchuk, 1984. "Litigation and Settlement under Imperfect Information," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 404-415, Autumn.
    5. T. Randolph Beard, 1990. "Bankruptcy and Care Choice," RAND Journal of Economics, The RAND Corporation, vol. 21(4), pages 626-634, Winter.
    6. Png, I. P. L., 1987. "Litigation, liability, and incentives for care," Journal of Public Economics, Elsevier, vol. 34(1), pages 61-85, October.
    7. Steven Shavell, 1984. "A Model of the Optimal Use of Liability and Safety Regulation," RAND Journal of Economics, The RAND Corporation, vol. 15(2), pages 271-280, Summer.
    8. Shavell, S., 1986. "The judgment proof problem," International Review of Law and Economics, Elsevier, vol. 6(1), pages 45-58, June.
    9. Rasmusen, Eric, 1995. "How optimal penalties change with the amount of harm," International Review of Law and Economics, Elsevier, vol. 15(1), pages 101-108, January.
    10. Polinsky, A Mitchell & Rubinfeld, Daniel L, 1988. "The Welfare Implications of Costly Litigation for the Level of Liability," The Journal of Legal Studies, University of Chicago Press, vol. 17(1), pages 151-164, January.
    11. Craswell, Richard & Calfee, John E, 1986. "Deterrence and Uncertain Legal Standards," Journal of Law, Economics, and Organization, Oxford University Press, vol. 2(2), pages 279-303, Fall.
    12. Arlen, Jennifer H, 1992. "Should Defendants' Wealth Matter?," The Journal of Legal Studies, University of Chicago Press, vol. 21(2), pages 413-429, June.
    13. Randall, Alan, 1993. "Passive-use Values and Contingent Valuation- Valid for Damage Assessment," Choices, Agricultural and Applied Economics Association, vol. 8(2).
    14. Ringleb, Al H & Wiggins, Steven N, 1990. "Liability and Large-Scale, Long-term Hazards," Journal of Political Economy, University of Chicago Press, vol. 98(3), pages 574-595, June.
    15. Grossman, Gene M & Katz, Michael L, 1983. "Plea Bargaining and Social Welfare," American Economic Review, American Economic Association, vol. 73(4), pages 749-757, September.
    16. A. Mitchell Polinsky & Daniel L. Rubinfeld, 1996. "Optimal Awards and Penalties When the Probability of Prevailing Varies Among Plaintiffs," RAND Journal of Economics, The RAND Corporation, vol. 27(2), pages 269-280, Summer.
    17. Innes, Robert D., 1990. "Limited liability and incentive contracting with ex-ante action choices," Journal of Economic Theory, Elsevier, vol. 52(1), pages 45-67, October.
    18. Abraham, Kenneth S & Jeffries, John C, Jr, 1989. "Punitive Damages and the Rule of Law: The Role of Defendant's Wealth," The Journal of Legal Studies, University of Chicago Press, vol. 18(2), pages 415-425, June.
    19. Kolstad, Charles D & Ulen, Thomas S & Johnson, Gary V, 1990. "Ex Post Liability for Harm vs. Ex Ante Safety Regulation: Substitutes or Complements?," American Economic Review, American Economic Association, vol. 80(4), pages 888-901, September.
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    Cited by:

    1. Dyar, Julie A. & Wagner, Jeffrey, 2003. "Uncertainty and species recovery program design," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 505-522, March.
    2. Zivin, Joshua Graff & Just, Richard E. & Zilberman, David, 2005. "Risk Aversion, Liability Rules, and Safety," International Review of Law and Economics, Elsevier, vol. 25(4), pages 604-623, December.
    3. Innes, Robert, 2004. "Enforcement costs, optimal sanctions, and the choice between ex-post liability and ex-ante regulation," International Review of Law and Economics, Elsevier, vol. 24(1), pages 29-48, March.
    4. Duke, Joshua M. & Malcolm, Scott A., 2003. "Legal risk in agriculture: right-to-farm laws and institutional change," Agricultural Systems, Elsevier, vol. 75(2-3), pages 295-303.
    5. Robert Innes & Dennis Cory, 2001. "The Economics of Safe Drinking Water," Land Economics, University of Wisconsin Press, vol. 77(1), pages 94-117.
    6. Juan José Ganuza & Fernando Gómez, 2003. "Optimal negligence rule under limited liability," Economics Working Papers 759, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2004.
    7. Hutchinson, Emma & van 't Veld, Klaas, 2005. "Extended liability for environmental accidents: what you see is what you get," Journal of Environmental Economics and Management, Elsevier, vol. 49(1), pages 157-173, January.
    8. van 't Veld, Klaas & Hutchinson, Emma, 2009. "Excessive spending by firms to avoid accidents: Is it a concern in practice?," International Review of Law and Economics, Elsevier, vol. 29(4), pages 324-335, December.

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