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Do Exposure Suits Produce a "Race to File"? An Economic Analysis of a Tort for Risk

Author

Listed:
  • Thomas J. Miceli

    (University of Connecticut, Storrs)

  • Kathleen Segerson

    (University of Connecticut, Storrs)

Abstract

Conventional tort law does not allow exposure victims to seek compensation until they develop symptoms of illness. Because this may bar recovery if the injurer is judgment proof, some have advocated allowing victims to sue at exposure. However, critics charge that such a tort for risk would create a ``race to file.'' We show that a race may or may not occur in equilibrium, and that when it does occur, not all victims choose to file even if bankruptcy is an inevitable result. We examine the consequences of the possible equilibria on compensation of victims, litigation costs, and injurer care.

Suggested Citation

  • Thomas J. Miceli & Kathleen Segerson, 2005. "Do Exposure Suits Produce a "Race to File"? An Economic Analysis of a Tort for Risk," RAND Journal of Economics, The RAND Corporation, vol. 36(3), pages 613-627, Autumn.
    • Handle: RePEc:rje:randje:v:36:y:2005:3:p:613-627
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    Cited by:

    1. Michelle J. White, 2006. "Asbestos Litigation: Procedural Innovations and Forum Shopping," The Journal of Legal Studies, University of Chicago Press, vol. 35(2), pages 365-398, June.

    More about this item

    JEL classification:

    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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