In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the …

In a world with risk-neutral agents, liability rules will only induce efficient behavior if these rules impose the full …

Car owners are liable for property damage inflicted on other motorists. In most countries such liability must be … links between liability rules and vehicle choice. It presumes cooperative insurance, but non-cooperative acquisition of … vehicles. Thus, the Nash equilibrium and its degree of efficiency depend on the liability regime. …

Car owners are liable for property damage inflicted on other motorists. In most countries such liability must be … links between liability rules and vehicle choice. It presumes cooperative insurance, but non-cooperative acquisition of … vehicles. Thus, the Nash equilibrium and its degree of efficiency depend on the liability regime. …

literature as the first use of cost-benefit analysis for determining negligence and assigning liability. This paper revisits the … specific liability rule that governed the original case. It is even more ironic that there exist cases where the equilibrium is …

In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the …