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Efficiency of 'Simple' Liability Rules When Courts Make Erroneous Estimation of the Damage

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Author Info
Ram Singh ()

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File URL: http://hdl.handle.net/10.1023/A:1023980208945
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Publisher Info
Article provided by Springer in its journal European Journal of Law and Economics.

Volume (Year): 16 (2003)
Issue (Month): 1 (July)
Pages: 39-58
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Handle: RePEc:kap:ejlwec:v:16:y:2003:i:1:p:39-58

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Related research
Keywords: court errors; liability rules; simple liability rules; total social costs; efficient liability rules; negligent injurer's liability; Nash equilibrium;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Rasmusen, Eric, 1995. "Predictable and unpredictable error in tort awards: The effect of plaintiff self-selection and signaling," International Review of Law and Economics, Elsevier, vol. 15(3), pages 323-345, September. [Downloadable!] (restricted)
  2. Louis Kaplow & Steven Shavell, 1996. "Accuracy in the Assessment of Damages," NBER Working Papers 4287, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Alfred Endres & Andreas Lüdeke, 1998. "Limited Liability and Imperfect Information—On the Existence of Safety Equilibria Under Products Liability Law," European Journal of Law and Economics, Springer, vol. 5(2), pages 153-165, March. [Downloadable!] (restricted)
  4. Louis Kaplow & Steven Shavell, 1999. "Economic Analysis of Law," NBER Working Papers 6960, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Jerry Green, 1976. "On the Optimal Structure of Liability Laws," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 553-574, Autumn. [Downloadable!] (restricted)
  6. Kaplow, Louis, 1994. "The Value of Accuracy in Adjudication: An Economic Analysis," Journal of Legal Studies, University of Chicago Press, vol. 23(1), pages 307-401, January.
  7. A. Mitchell Polinsky, 1980. "Strict Liability versus Negligence in a Market Setting," NBER Working Papers 0420, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Peter Van Wijck & Jan Winters, 2001. "The Principle of Full Compensation in Tort Law," European Journal of Law and Economics, Springer, vol. 11(3), pages 319-332, May. [Downloadable!] (restricted)
  9. Louis Kaplow & Steven Shavell, 1994. "Accuracy in the Determination of Liability," NBER Working Papers 4203, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  10. Kaplow, Louis & Shavell, Steven, 1992. "Private versus Socially Optimal Provision of Ex Ante Legal Advice," Journal of Law, Economics and Organization, Oxford University Press, vol. 8(2), pages 306-20, April.
    Other versions:
  11. Craswell, Richard & Calfee, John E, 1986. "Deterrence and Uncertain Legal Standards," Journal of Law, Economics and Organization, Oxford University Press, vol. 2(2), pages 279-303, Fall.
  12. Feldman, Allan M. & Frost, John M., 1998. "A simple model of efficient tort liability rules," International Review of Law and Economics, Elsevier, vol. 18(2), pages 201-215, June. [Downloadable!] (restricted)
  13. Kaplow, Louis, 1995. "A Model of the Optimal Complexity of Legal Rules," Journal of Law, Economics and Organization, Oxford University Press, vol. 11(1), pages 150-63, April.
  14. Miceli, Thomas J, 1990. "Optimal Prosecution of Defendants Whose Guilt Is Uncertain," Journal of Law, Economics and Organization, Oxford University Press, vol. 6(1), pages 189-201, Spring.
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ram Singh, 2007. "Comparative Causation and Economic Efficiency: When Activity Levels are Constant," Review of Law & Economics, Berkeley Electronic Press, vol. 3(2), pages 8. [Downloadable!] (restricted)
  2. Tim Friehe, 2007. "On the incentive effects of damage averaging in tort law," Economics Bulletin, Economics Bulletin, vol. 11(2), pages 1-7. [Downloadable!]
  3. Ram Singh, 2008. "Risk, Informational Asymmetry and Product Liability; An enquiry into conflicting objectives," Working papers 164, Centre for Development Economics, Delhi School of Economics. [Downloadable!]
    Other versions:
  4. Tim Friehe, . "Screening Accident Victims," German Working Papers in Law and Economics 2006-1-1140, Berkeley Electronic Press. [Downloadable!]
    Other versions:
  5. Ram Singh, 2004. "‘Full’ Compensation Criteria: An Enquiry into Relative Merits," European Journal of Law and Economics, Springer, vol. 18(2), pages 223-237, September. [Downloadable!] (restricted)
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