January 28, 2014 Abstract Extending previous “tales of two market failures”, we consider a setting in which firms generate environmental externalities and may invest in environmentally friendly technological advancement generating R&D spillovers. We analyze the joint use of environmental liability law and R&D subsidies to internalize the double externality. Two alternative liability rules are c...

This paper studies an economic model of tort liability rules and considers litigation between a firm and a consumer, under the assumption that the consumer may not perfectly observe the firm’s action. We compare two alternative tort liability rules: the Negligence rule and strict liability with contributory negligence. We consider the noiseless case as a benchmark, and show that under those two...

In his recent article, “Liability Rules When Injurers as Well as Victims Suffer Losses,“’ Avon Leong examines the question whether the standard liability rules-pure negligence, negligence with contributory negligence, pure strict liability and strict liability with contributory negligence-can be used to induce efficient care-taking by individuals in those circumstances where both injurers’ and ...

Examines what avenues are open to establish a legal procedure to ensure compensation for parties injured as the result of accidents caused by offshore drilling rigs. Concludes that there is a need to impose strict liability standard on those parties engaged in offshore drilling for damages caused by such activities. THE CAMPECHE BAY BLOW-OUT: A STRICT LIABILITY APPROACH TO DAMAGES RESULTING FRO...

where the debtor fails to perform the contract, he would have contractual liability. (this amount to contractual liability of the debtor) can debtor have the right to ignore contractual liability and invoke for tortuous? right to choose is definitely raised where non-performance of contract amounts to contractual liability as well as tortuous liability. some confirm this right to choose and giv...