Sequential torts and bilateral harm
This paper analyzes care incentives of individuals in a bilateral-harm setting if care choices are sequential. We find that the efficient outcome is not guaranteed under any liability rule considered, irrespective of whether information is perfect or imperfect. Furthermore, it is no longer possible to generally rank liability rules according to their induced social costs. These findings are in strong contrast to the sequential-torts setting in which harm is unilateral.
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References listed on IDEAS
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- Dhammika Dharmapala & Sandra A. Hoffmann, 2005.
"Bilateral Accidents with Intrinsically Interdependent Costs of Precaution,"
The Journal of Legal Studies,
University of Chicago Press, vol. 34(1), pages 239-272, 01.
- Dhammika Dharmapala & Sandra A. Hoffmann, 2002. "Bilateral Accidents with Intrinsically Interdependent Costs of Precaution," Working papers 2002-11, University of Connecticut, Department of Economics.
- Laszlo Goerke, 2003. "Road Traffic and Efficient Fines," European Journal of Law and Economics, Springer, vol. 15(1), pages 65-84, January.
- Endres, Alfred, 1992. "Strategic behavior under tort law," International Review of Law and Economics, Elsevier, vol. 12(3), pages 377-380, September.
- Shavell, Steven, 2007. "Liability for Accidents," Handbook of Law and Economics, Elsevier.
- Arlen, Jennifer H., 1990. "Re-examining liability rules when injurers as well as victims suffer losses," International Review of Law and Economics, Elsevier, vol. 10(3), pages 233-239, December.
- Rea, Samuel Jr., 1987. "The economics of comparative negligence," International Review of Law and Economics, Elsevier, vol. 7(2), pages 149-162, December.
- Winter, Harold, 1994. "Sequential Torts with imperfect information," International Review of Law and Economics, Elsevier, vol. 14(1), pages 35-40, March.
- Leong, Avon K., 1989. "Liability rules when injurers as well as victims suffer losses," International Review of Law and Economics, Elsevier, vol. 9(1), pages 105-111, June.
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