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Customary versus technological advancement tests

  • Deffains, Bruno
  • Demougin, Dominique

In 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 by some of its competitors, we ask whether courts should use a biased or an unbiased average to compare care. We find that the latter is advantageous.

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File URL: http://www.sciencedirect.com/science/article/B6V7M-4RYNMG6-1/1/68cae89bd68dfc85c2a030e4c860a6fd
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Article provided by Elsevier in its journal International Review of Law and Economics.

Volume (Year): 28 (2008)
Issue (Month): 2 (June)
Pages: 106-112

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Handle: RePEc:eee:irlaec:v:28:y:2008:i:2:p:106-112
Contact details of provider: Web page: http://www.elsevier.com/locate/irle

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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 363-67, May.
  2. Paul R. Milgrom, 1979. "Good Nevs and Bad News: Representation Theorems and Applications," Discussion Papers 407R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Boyd, James & Ingberman, Daniel E, 1997. "Should "Relative Safety" Be a Test of Product Liability?," The Journal of Legal Studies, University of Chicago Press, vol. 26(2), pages 433-73, June.
  4. Viscusi, W Kip & Moore, Michael J, 1993. "Product Liability, Research and Development, and Innovation," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 161-84, February.
  5. Edward P. Lazear & Sherwin Rosen, 1979. "Rank-Order Tournaments as Optimum Labor Contracts," NBER Working Papers 0401, National Bureau of Economic Research, Inc.
  6. Brown, John P, 1974. "Product Liability: The Case of an Asset with Random Life," American Economic Review, American Economic Association, vol. 64(1), pages 149-61, March.
  7. Spence, A Michael, 1977. "Consumer Misperceptions, Product Failure and Producer Liability," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 561-72, October.
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