Cumulative Harm and Resilient Liability Rules for Product Markets
نویسندگان
چکیده
منابع مشابه
Cumulative Harm and Resilient Liability Rules for Product Markets*
In the traditional model of the law and economics of torts, harm accrues proportional to use. This has the remarkable implication for products-generated torts that product performance concerns (e.g., issues of care and of liability for harm) can be considered independently of market performance concerns (e.g., market structure and competition). Moreover, the classical analysis finds that all li...
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In this paper, we examine the levels of care which would be chosen by a monopolistic manufacturer and competitive retailer, when both the manufacturer and retailer can affect the probability of an accident and when the manufacturer cannot observe ex ante the care chosen by the retailer. We show that if retailer bankruptcy is not possible, retailer liability is superior to manufacturer liability...
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This article examines the judicial approach to emotional harm claims from a medical perspective. Legal rules in this area are already recognised as being illogical and incoherent. Psychological and psychiatric research illustrate that they also conflict with empirical findings. By basing claims on erroneous criteria, courts may deny liability in meritorious cases, and impose liability in possib...
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Product liability is one of the fastest growing and most economically significant applications of tort law. Product liability actions against pharmaceutical companies are among the most widely publicized classes of suits in the United States and Europe, prompting pharmaceutical companies to lobby vigorously for tort reform. (Nace et al., 1997). The liability burden on pharmaceutical companies h...
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ژورنال
عنوان ژورنال: Journal of Law, Economics, and Organization
سال: 2012
ISSN: 8756-6222,1465-7341
DOI: 10.1093/jleo/ews045