Legal Entitlements as Auctions: Property Rules, Liability Rules, and beyond

The Relative Burden of Determining Property Rules and Liability Rules: Broken Elevators in the Cathedral

Property Rules, Liability Rules, and Inalienability: One View of the Cathedral

Property and Property Rules

Instantaneous Liability Rule Auctions: the Continuous Extension of Higher-order Liability Rules

A “higher-order” liability regime—in which a plaintiff and a defendant have a sequence of alternating options to take (or to put) a disputed entitlement —can enhance allocative efficiency by harnessing the private information possessed by both litigants. Indeed, infinite order liability regimes can, as a theoretical matter, assure first-best efficiency. Such iterated taking regimes have, howeve...

a comparative study on borders and basis of carrier’s liability under “rotterdam rules” with “hague rules” and “hamburg rules”

on december 11, 2008, the united nations adopted the “convention on contracts for the international carriage of goods wholly or partly by sea”, more colloquially known as the “rotterdam rules” for the city which hosted the convention’s signing ceremony on september 23, 2009. rotterdam convention approved the “presumption of responsibility” as the basis of carrier’s responsibility and listed the...