Innovation, Tort Law, and Competition

Innovation , tort law , and competition

In this paper, we examine the link between innovative activity on the part of firms, the competitive pressure to introduce innovations and optimal damages awards. While innovative activity brings forth valuable new products for consumers, competitive pressure in the ensuing innovation race induces firms to launch innovations too early, thereby raising the likelihood of severe product risks abov...

Modern Tort Law Demystified

Serious Tort Law Reform

Tort law is a form of collective intervention into social and economic affairs that carries with it substantial costs, both public and private. These costs include higher prices for goods and services, higher taxes, and the socially undesirable consequences that tort law has on people's behavior such as the failure of companies to develop and introduce products the public wants, the wasteful an...

Medical Malpractice Tort Reform an Introduction to Tort Law

r a d i o l o g y M a n a g e M e n t 30 r a d i o l o g y M a n a g e M e n t  M a r c h / a p r i l 2 0 1 1 The credit earned from the Quick CreditTM test accompanying this article may be applied to the AHRA certified radiology administrator (CRA) operation management domain. By David M. Ottenwess, Esq, Meagan A. Lamberti, Esq, Stephanie P. Ottenwess, Esq, and Adrienne D. Dresevic, Esq Medic...

Tort law and medical malpractice insurance premiums.

This paper estimated the effects of tort law and insurer investment returns on physician malpractice insurance premiums. Data were collected on tort law from 1991 through 2004, and multivariate regression models, including fixed effects for state and year, were used to estimate the effect of changes in tort law on medical malpractice premiums. The premium consequences of national policy changes...