Precaution Incentives in Accident Settings

• Main Author: Friehe, Tim (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Wiesbaden : Gabler, 2008.
• Subjects: Economics.; Management science.; Economics, general.

One central function of tort law is the inducement of precaution incentives. This is particularly welcome in settings in which the internalization of interdependencies between individuals relating to care and expected harm would otherwise not take effect due to high transaction costs broadly conceiv...

Table of Contents:

• The Economics of Tort Law:Basics and Selected Core Themes
• On the Incentive Effects of Damage Averaging in Tort Law
• On the Superiority of Damage Averaging in the Case of Strict Liability
• Screening Accident Victims
• A Note on Judgment Proofness and Risk Aversion
• On the Similarity of Bilateral Harm and Unilateral Harm with Role-Type Uncertainty
• On Avoidance Activities After Accidents
• Conclusion.