IDEAS home Printed from https://ideas.repec.org/p/wpa/wuwple/0004003.html
   My bibliography  Save this paper

“... or should have known ...”: On Foreseeability and Paradox in Law and Economics

Author

Listed:
  • Steven Sullivan

    (New York University)

Abstract

The economic analysis of law, as a subdiscipline of economics, has traditionally been about analyzing the efficiency properties of different rules for assigning known quanta of damages. This work (from the author's NYU doctoral dissertation) focuses on the processes by which agents in legal institutions come to know what they have been assumed to know when the economist models their behavior. This essay suggests that mainstream Law and Economics’ approach to conceptualizing unforeseeable events either contradicts some of its specific conclusions about liability rules or renders it incapable of applying its traditional efficiency criteria to the study of comparative legal systems. An alternative to the efficiency criterion is discussed.

Suggested Citation

  • Steven Sullivan, 2000. "“... or should have known ...”: On Foreseeability and Paradox in Law and Economics," Law and Economics 0004003, EconWPA.
  • Handle: RePEc:wpa:wuwple:0004003
    Note: Type of Document - WordPerfect; prepared on PC-Compatible; to print on Any PC-Compatible (Canon Bubble); pages: 33; figures: None. I invite your comments and suggestions; this paper was the third chapter of my 1998 NYU doctoral dissertation.
    as

    Download full text from publisher

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/le/papers/0004/0004003.pdf
    Download Restriction: no

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/le/papers/0004/0004003.ps.gz
    Download Restriction: no

    More about this item

    Keywords

    Posner foreseeability equilibrium strict liability Austrian;

    JEL classification:

    • K - Law and Economics

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwple:0004003. 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: (EconWPA). General contact details of provider: https://econwpa.ub.uni-muenchen.de .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.