Strict liability, scarce generic input and duopoly competition

strict liability; foundations and instances

strict liability is the result of philosophical ideas of lawyers in front of developments in human knowledge and complexity of social relationships. strict liability the main aim is facilitation of victim's compensation, so the proof of fault is not necessary and causation is sufficient. this type of liability is justified by various foundations of economics, society and morality. in the b...

Competition for Scarce Resources

We show that the efficient allocation of production capacity can turn a competitive industry and downstream market into an imperfectly competitive one. Even though downstream firms have symmetric production technologies, the downstream industry structure will be symmetric only if capacity is sufficiently scarce. Otherwise it will be asymmetric, with one large “fat” capacityhoarding firm and a f...

Competition for Scarce Resources∗

We show that the efficient allocation of production capacity can turn a competitive industry and downstream market into an imperfectly competitive one. Even though downstream firms have symmetric production technologies, the downstream industry structure will be symmetric only if capacity is sufficiently scarce. Otherwise it will be asymmetric, with one large “fat” capacity-hoarding firm and a ...

The Case Against Strict Liability

Pollution Externalities: Social Cost and Strict Liability

This paper critically considers the neoclassical social-cost approach to problems of pollution. This traditional approach, when subjected to close scrutiny, is found to be seriously wanting in applicability and consistency. A less ambitious alternative based on notions of strict liability is offered. The social-cost approach is an offshoot of the “new welfare economics~’developed during the las...