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In this contribution we focus on the role of experts in the assessment of tort damages from an economic point of view …-fatal accidents).Second, we investigate from a Law and Economics point of view the role of experts in general (so not only economists …) in the assessment of damages. We discuss i.a. the question why experts may be involved in the assessment of damages, the …
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We provide a simple framework in which the level of adversarial bias is endogenously determined in a litigation process. Using this model, we study the effect of using a court-appointed expert on the level of adversarial bias and the average error rates, and find an interesting trade-off:...
Persistent link: https://www.econbiz.de/10012912049
The last few decades have seen a dramatic shift in the admissibility of expert testimony in American courtrooms from a laissez-faire approach to a strict standard for admissibility, often called the Daubert test. The implicit rationale behind such a stringent standard for admissibility is the...
Persistent link: https://www.econbiz.de/10012995104
Concerned about evidence distortion arising from litigants' strong incentive to misrepresent information to fact-finders, legal scholars and commentators have long suggested that the court appoint its own advisor for a neutral piece of information about the dispute. This paper studies the...
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This is a survey of legal liability for accidents. Three general aspects of accident liability are addressed. The first … is the effect of liability on incentives, both whether to engage in activities (for instance, whether to drive) and how …-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential …
Persistent link: https://www.econbiz.de/10014023514
covered. The first is legal liability for harm. Here we discuss liability rules as incentives to reduce risk, issues of risk …-bearing and insurance, and the costs of the liability system. Second, we consider property law, where we address the nature and …
Persistent link: https://www.econbiz.de/10014024839