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Splitting Nuclear Parks or Not? The Third Party Liability Role

  • Gérard Mondello

    (GREDEG CNRS
    University of Nice Sophia Antipolis)

Starting from the standard analysis of accident theory, this paper shows that determining the first-best level of care of ultra-hazardous activities also involves determining the best industrial structure. The analysis assesses the impact of the civil nuclear liability on the organization of given electro-nuclear parks. The object is to know whether these liability rules induce horizontally concentrating the management of nuclear industry or not. In a model extended from two to n plants, we show that the institutional conditions (cap on the operator’s liability and the insurance compensation) play a fundamental role in the inducement to centralize or not this management. Hence, a priori, no organization framework is more efficient than the other one.

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File URL: http://www.gredeg.cnrs.fr/working-papers/GREDEG-WP-2014-05.pdf
File Function: First version, 2014
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Paper provided by Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis in its series GREDEG Working Papers with number 2014-05.

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Length: 34 pages
Date of creation: Feb 2014
Date of revision:
Handle: RePEc:gre:wpaper:2014-05
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  1. Shavell, S., 1986. "The judgment proof problem," International Review of Law and Economics, Elsevier, vol. 6(1), pages 45-58, June.
  2. Roques, F.A. & Nuttall, W.J. & Newbery, D.M. & de Neufville, R., 2005. "Nuclear Power: a Hedge against Uncertain Gas and Carbon Prices?," Cambridge Working Papers in Economics 0555, Faculty of Economics, University of Cambridge.
  3. Gollier, Christian, 2004. "Choice of Nuclear Power Investments under Price Uncertainty: Valuing Modularity," IDEI Working Papers 287, Institut d'Économie Industrielle (IDEI), Toulouse.
  4. Adela Conchado & Pedro Linares, 2010. "The Economics of New Nuclear Power Plants in Liberalized Electricity Markets," Working Papers 04-2010, Economics for Energy.
  5. Heyes, Anthony & Heyes, Catherine, 2000. "An empirical analysis of the Nuclear Liability Act (1970) in Canada," Resource and Energy Economics, Elsevier, vol. 22(1), pages 91-101, January.
  6. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
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