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Title
Economic analysis of liability rules [electronic resource] / Satish Kumar Jain.
ISBN
9788132220299 electronic book
8132220293 electronic book
9788132220282
Published
New Delhi, India : Springer, [2015]
Language
English
Description
1 online resource.
Item Number
10.1007/978-81-322-2029-9 doi
Call Number
K579.L5 J35 2015eb
Dewey Decimal Classification
346.03
Summary
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.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
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Available in Other Form
Print version: 9788132220282
Chapter 1. Introduction
Chapter 2. Efficiency Criteria
Chapter 3. The Structure of Efficient Liability Rules
Chapter 4. Decoupled Liability and Efficiency
Chapter 5. Negligence as Failure to Take Some Cost-Justified Precaution
Chapter 6. The Structure of Incremental Liability Rules
Chapter 7. The Negligence Rule
Chapter 8. Decomposition of Loss and a Class of Negligence Rules
Chapter 9. Multiple Injurers and Victims
Chapter 10. Epilogue.
