Revisiting the Learned Hand Formula and Economic Analysis of Negligence
The Learned Hand formula is enshrined in the law-and-economics literature as the centerpiece of the courts´ way of determining negligence. The orthodox interpretation of it is the conditional application of the Hand formula contingent on the other party´s assumed efficient behavior. Reviewing four tort cases, I show that more consistent explanation for the realized court decisions is the conditional application of the Hand formula contingent on the other party´s actual behavior. The games defined by the alternative approach show that social efficiency is achieved under negligence-based rules only in the case of discrete and joint care.
Volume (Year): 169 (2013)
Issue (Month): 3 (September)
|Contact details of provider:|| Web page: https://www.mohr.de/jite|
|Order Information:|| Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany|
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.:
- 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.
- Jeonghyun Kim, 2004. "A Complete Characterization of Efficient Liability Rules: Comment," Journal of Economics, Springer, vol. 81(1), pages 61-75, 01.
- Feldman, Allan M. & Frost, John M., 1998. "A simple model of efficient tort liability rules," International Review of Law and Economics, Elsevier, vol. 18(2), pages 201-215, June.
- Grady, Mark F, 1988. "Common Law Control of Strategic Behavior: Railroad Sparks and the Farmer," The Journal of Legal Studies, University of Chicago Press, vol. 17(1), pages 15-42, January.
- Chung, T.Y., 1992.
"Efficiency of Comparative Negligence: A Game Theoretic Analysis,"
UWO Department of Economics Working Papers
9215, University of Western Ontario, Department of Economics.
- Chung, Tai-Yeong, 1993. "Efficiency of Comparative Negligence: A Game Theoretic Analysis," The Journal of Legal Studies, University of Chicago Press, vol. 22(2), pages 395-404, June.
When requesting a correction, please mention this item's handle: RePEc:mhr:jinste:urn:sici:0932-4569(201309)169:3_407:rtlhfa_2.0.tx_2-c. 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: (Thomas Wolpert)
If references are entirely missing, you can add them using this form.