The notion that damages should be multiplied by the reciprocal of the probability of punishment is one of the basic lessons of the law and economics literature. However, the simple 1/p multiplier turns out be inapplicable in the civil damages setting. The multiplier that brings about first-best...

Chapter 1: Introduction -- PART 1. Assigning responsibility: Values and institutions -- Chapter 2: Values -- Chapter 3: Institutions -- Chapter 4: Causation and responsibility -- PART 2. Reasons for limiting responsibility -- Chapter 5: Tort doctrines -- Chapter 6: Criminal doctrines -- PART 3....