Authors:
Presents a comprehensive analysis of liability rules
Contains complete characterizations of efficient liability rules and efficient incremental liability rules
Establishes that the untaken precaution approach as well as decoupled liability are incompatible with efficiency
Includes supplementary material: sn.pub/extras
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Table of contents (10 chapters)
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Front Matter
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Back Matter
About this book
This book focuses on the analysis of liability rules of tort law from an efficiency perspective, presenting a comprehensive analysis of these rules in a self-contained and rigorous yet accessible manner. It establishes general results on the efficiency of liability rules, including complete characterizations of efficient liability rules and efficient incremental liability rules. The book also establishes that the untaken precaution approach and decoupled liability are incompatible with efficiency.
The economic analysis of tort law has established that for efficiency it is necessary that each party to the interaction must be made to internalize the harm resulting from the interaction. The characterization and impossibility theorems presented in this book establish that, in addition to internalization of the harm by each party, there are two additional requirements for efficiency. Firstly, rules must be immune from strategic manipulation. Secondly, rules must entail closure with respect to the parties involved in the interaction giving rise to the negative externality, i.e., the liability must not be decoupled.
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Authors and Affiliations
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Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi, India
Satish Kumar Jain
About the author
Bibliographic Information
Book Title: Economic Analysis of Liability Rules
Authors: Satish Kumar Jain
DOI: https://doi.org/10.1007/978-81-322-2029-9
Publisher: Springer New Delhi
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer India 2015
Hardcover ISBN: 978-81-322-2028-2Published: 12 December 2014
Softcover ISBN: 978-81-322-3502-6Published: 23 August 2016
eBook ISBN: 978-81-322-2029-9Published: 01 December 2014
Edition Number: 1
Number of Pages: IX, 180
Number of Illustrations: 8 b/w illustrations
Topics: Law and Economics, Civil Procedure Law, Criminal Law and Criminal Procedure Law, Economic Theory/Quantitative Economics/Mathematical Methods