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On Optimal Legal Change, Past Behavior, and Grandfathering

Shavell, Steven - 2010

When is it socially advantageous for legal rules to be changed in the light of altered circumstances? In answering this basic question here, a simple point is developed -- that past compliance with legal rules tends to reduce the social advantages of legal change. The reasons are twofold:...

Persistent link: https://www.econbiz.de/10012759741

Economic Analysis of Law

Kaplow, Louis - 2010

This is a survey of the field of economic analysis of law, focusing on the work of economists. The survey covers the three central areas of civil law liability for accidents (tort law), property law, and contracts as well as the litigation process and public enforcement of law

Persistent link: https://www.econbiz.de/10012763597

The Rationale for Motions in the Design of Adjudication

Shavell, Steven - 2018

The conduct of adjudication is often influenced by motions––requests made by litigants to modify the course of adjudication. The question studied in this article is why adjudication is designed so as to permit the use of motions. The answer developed is that litigants will naturally know a...

Persistent link: https://www.econbiz.de/10012916625

A Simple Model of Optimal Deterrence and Incapacitation

Shavell, Steven - 2014

The deterrence of crime and its reduction through incapacitation are studied in a simple multiperiod model of crime and law enforcement. Optimal imprisonment sanctions and the optimal probability of sanctions are determined. A point of emphasis is that the incapacitation of individuals is often...

Persistent link: https://www.econbiz.de/10013040232

Mandatory Versus Voluntary Disclosure of Product Risks

Polinsky, A. Mitchell - 2007

We analyze a model in which firms are able to acquire information about product risks and may or may not be required to disclose this information. We initially study the effect of disclosure rules assuming that firms are not liable for the harm caused by their products. Although mandatory...

Persistent link: https://www.econbiz.de/10012778097

Suit Versus Settlement When Parties Seek Nonmonetary Judgements

Shavell, Steven - 2007

This article considers situations in which plaintiffs seek nonmonetary judgments, for instance, custody of a child or an injunction. The primary questions of interest concern when parties will be likely to settle and, if so, what the nature of their settlements will be. The answers to these...

Persistent link: https://www.econbiz.de/10012777109

Economic Analysis of Welfare Economics, Morality and the Law

Shavell, Steven - 2022

This paper contains the chapters on welfare economics, morality, and the law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, 2003). I begin in chapter 26 with a discussion of the normative foundations of economic analysis, namely, the subject...

Persistent link: https://www.econbiz.de/10014084957

Economic Analysis of Public Law Enforcement and Criminal Law

Shavell, Steven - 2022

enforcement are discussed in the chapters that follow. In chapter 20, the basic theory of public enforcement employing monetary … sanctions is discussed; in chapter 21, the basic theory of enforcement using nonmonetary sanctions is examined; and in chapter … 22, extensions to the basic theory are considered. Then, in chapter 23, functions of sanctions apart from deterrence …

Persistent link: https://www.econbiz.de/10014084960

Optimal Cleanup and Liability after Environmentally Harmful Discharges

Polinsky, A. Mitchell - 2011

This article studies how liability for environmentally harmful discharges affects the incentives of firms to engage in cleanup and invest in precautions, as well as the incentives of consumers to purchase the goods whose production leads to discharges. Our main conclusion is that making firms...

Persistent link: https://www.econbiz.de/10013124354

Economic Analysis of Accident Law

Shavell, Steven - 2012

Accident law is the body of legal rules governing the ability of victims of harm to sue and to collect payments from those who injured them. This paper contains the chapters on accident law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press,...

Persistent link: https://www.econbiz.de/10013105846