Now showing items 1-5 of 5
The Determinants of the Disposition of Product Liability Claims and Compensation for Bodily Injury
(The Journal of Legal Studies, 1986)
The frequency and severity of products liability lawsuits have become a matter of increasing importance and concern to the public at large and to American business in particular. The number of product liability cases filed ...
The Dimensions of the Product Liability Crisis
(The Journal of Legal Studies, 1991)
Examination of a variety of sources of statistics indicates that the product liability crisis is real, and it is not simply imagined or contrived by the insurance industry. Litigation in the product liability area has ...
Product Liability and Regulation: Establishing the Appropriate Institutional Division of Labor
(American Economic Association, 2012)
Society has several institutional mechanisms that promote the control of product health and safety risks and compensation of the income losses that these risks generated. For risks traded in the market, economic forces at ...
Why There is No Defense of Punitive Damages
(The Georgetown Law Journal, 1998)
My analysis of punitive damages in environmental and products liability cases concludes that these awards impose substantial costs on society, and that abolishing punitive damages would improve social welfare. The two ...
Market Incentives for Safety
(Harvard Business Review, 1985)
In the heated atmosphere generated by inch-high headlines and multimillion-dollar liability suits, two important facts often get lost. First, society's awareness of what ensuring reasonably complete safety would cost rarely ...