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Accident law, if properly designed, is capable of reducing the incidence of mishaps by making people act more cautiously. Since the 1960s, a group of legal scholars and economists have focused on identifying the effects of accident law on people's behavior. Steven Shavell’s book is the definitive synthesis of research to date in this new field.
Book Synopsis Economic Analysis of Accident Law by : Steven Shavell
Download or read book Economic Analysis of Accident Law written by Steven Shavell and published by Harvard University Press. This book was released on 2007-03-31 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accident law, if properly designed, is capable of reducing the incidence of mishaps by making people act more cautiously. Since the 1960s, a group of legal scholars and economists have focused on identifying the effects of accident law on people's behavior. Steven Shavell’s book is the definitive synthesis of research to date in this new field.
Accident law, if properly designed, is capable of reducing the incidence of mishaps by making people act more cautiously. Scholarly writing on this branch of law traditionally has been concerned with examining the law for consistency with felt notions of right and duty. Since the 1960s, however, a group of legal scholars and economists have focused on identifying the effects of accident law on people's behavior. Steven Shavell's book is the definitive synthesis of research to date in this new field.
Book Synopsis Economic Analysis of Accident Law by : Steven Shavell
Download or read book Economic Analysis of Accident Law written by Steven Shavell and published by Harvard University Press. This book was released on 2009-06-30 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accident law, if properly designed, is capable of reducing the incidence of mishaps by making people act more cautiously. Scholarly writing on this branch of law traditionally has been concerned with examining the law for consistency with felt notions of right and duty. Since the 1960s, however, a group of legal scholars and economists have focused on identifying the effects of accident law on people's behavior. Steven Shavell's book is the definitive synthesis of research to date in this new field.
Accident law is currently under review throughout the United States, and indeed the world, as present systems prove increasingly inadequate to handle the mounting costs of automobile accidents. In this pioneering work, Guido Calabresi develops a framework for evaluating different systems of accident law. Defining the goal of accident law as the maximum reduction of accident and accident avoidance costs that can be achieved fairly, he examines ten political and economic choices implied in various approaches to reducing these costs. Calabresi then considers two fundamental problems all systems of accident law must face: who should be held responsible for accident costs, and how should they be valued? He analyzes the fault-insurance system now widely used and finds it wanting on grounds both of cost reduction objectives and fairness. In conclusion, he discusses recent proposals for reform of the law, points out questions they raise, and ends by indicating the two he thinks most likely to prevail and the fundamental conflict between them. “Calabresi’s book is most significant for its first-rate combination of modern economic analysis and legal policy. The methodology and underlying principles extend far beyond the particular subject matter of accident law to many other legal areas that could benefit from economic analysis. In turn, some economic analyses may become the richer for the discussion in this book. It is truly one of those rare important volumes.”—Gerald M Meier
Book Synopsis The Cost of Accidents by : Guido Calabresi
Download or read book The Cost of Accidents written by Guido Calabresi and published by Yale University Press. This book was released on 2008-10-01 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accident law is currently under review throughout the United States, and indeed the world, as present systems prove increasingly inadequate to handle the mounting costs of automobile accidents. In this pioneering work, Guido Calabresi develops a framework for evaluating different systems of accident law. Defining the goal of accident law as the maximum reduction of accident and accident avoidance costs that can be achieved fairly, he examines ten political and economic choices implied in various approaches to reducing these costs. Calabresi then considers two fundamental problems all systems of accident law must face: who should be held responsible for accident costs, and how should they be valued? He analyzes the fault-insurance system now widely used and finds it wanting on grounds both of cost reduction objectives and fairness. In conclusion, he discusses recent proposals for reform of the law, points out questions they raise, and ends by indicating the two he thinks most likely to prevail and the fundamental conflict between them. “Calabresi’s book is most significant for its first-rate combination of modern economic analysis and legal policy. The methodology and underlying principles extend far beyond the particular subject matter of accident law to many other legal areas that could benefit from economic analysis. In turn, some economic analyses may become the richer for the discussion in this book. It is truly one of those rare important volumes.”—Gerald M Meier
What effects do laws have? Do individuals drive more cautiously, clear ice from sidewalks more diligently, and commit fewer crimes because of the threat of legal sanctions? Do corporations pollute less, market safer products, and obey contracts to avoid suit? And given the effects of laws, which are socially best? Such questions about the influence and desirability of laws have been investigated by legal scholars and economists in a new, rigorous, and systematic manner since the 1970s. Their approach, which is called economic, is widely considered to be intellectually compelling and to have revolutionized thinking about the law. In this book Steven Shavell provides an in-depth analysis and synthesis of the economic approach to the building blocks of our legal system, namely, property law, tort law, contract law, and criminal law. He also examines the litigation process as well as welfare economics and morality. Aimed at a broad audience, this book requires neither a legal background nor technical economics or mathematics to understand it. Because of its breadth, analytical clarity, and general accessibility, it is likely to serve as a definitive work in the economic analysis of law.
Book Synopsis Foundations of Economic Analysis of Law by : Steven Shavell
Download or read book Foundations of Economic Analysis of Law written by Steven Shavell and published by Harvard University Press. This book was released on 2009-07-01 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt: What effects do laws have? Do individuals drive more cautiously, clear ice from sidewalks more diligently, and commit fewer crimes because of the threat of legal sanctions? Do corporations pollute less, market safer products, and obey contracts to avoid suit? And given the effects of laws, which are socially best? Such questions about the influence and desirability of laws have been investigated by legal scholars and economists in a new, rigorous, and systematic manner since the 1970s. Their approach, which is called economic, is widely considered to be intellectually compelling and to have revolutionized thinking about the law. In this book Steven Shavell provides an in-depth analysis and synthesis of the economic approach to the building blocks of our legal system, namely, property law, tort law, contract law, and criminal law. He also examines the litigation process as well as welfare economics and morality. Aimed at a broad audience, this book requires neither a legal background nor technical economics or mathematics to understand it. Because of its breadth, analytical clarity, and general accessibility, it is likely to serve as a definitive work in the economic analysis of law.
Accident law is currently under review throughout the United States, and indeed the world, as present systems prove increasingly inadequate to handle the mounting costs of automobile accidents. In this pioneering work, Guido Calabresi develops a framework for evaluating different systems of accident law. Defining the goal of accident law as the maximum reduction of accident and accident avoidance costs that can be achieved fairly, he examines ten political and economic choices implied in various approaches to reducing these costs. Calabresi then considers two fundamental problems all systems of accident law must face: who should be held responsible for accident costs, and how should they be valued? He analyzes the fault-insurance system now widely used and finds it wanting on grounds both of cost reduction objectives and fairness. In conclusion, he discusses recent proposals for reform of the law, points out questions they raise, and ends by indicating the two he thinks most likely to prevail and the fundamental conflict between them. "Calabresi's book is most significant for its first-rate combination of modern economic analysis and legal policy. The methodology and underlying principles extend far beyond the particular subject matter of accident law to many other legal areas that could benefit from economic analysis. In turn, some economic analyses may become the richer for the discussion in this book. It is truly one of those rare important volumes."--Gerald M Meier
Book Synopsis The Cost of Accidents by : Guido Calabresi
Download or read book The Cost of Accidents written by Guido Calabresi and published by Yale University Press. This book was released on 1970-09-10 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accident law is currently under review throughout the United States, and indeed the world, as present systems prove increasingly inadequate to handle the mounting costs of automobile accidents. In this pioneering work, Guido Calabresi develops a framework for evaluating different systems of accident law. Defining the goal of accident law as the maximum reduction of accident and accident avoidance costs that can be achieved fairly, he examines ten political and economic choices implied in various approaches to reducing these costs. Calabresi then considers two fundamental problems all systems of accident law must face: who should be held responsible for accident costs, and how should they be valued? He analyzes the fault-insurance system now widely used and finds it wanting on grounds both of cost reduction objectives and fairness. In conclusion, he discusses recent proposals for reform of the law, points out questions they raise, and ends by indicating the two he thinks most likely to prevail and the fundamental conflict between them. "Calabresi's book is most significant for its first-rate combination of modern economic analysis and legal policy. The methodology and underlying principles extend far beyond the particular subject matter of accident law to many other legal areas that could benefit from economic analysis. In turn, some economic analyses may become the richer for the discussion in this book. It is truly one of those rare important volumes."--Gerald M Meier
Written by a lawyer and an economist, this is the first full-length economic study of tort law--the body of law that governs liability for accidents and for intentional wrongs such as battery and defamation. Landes and Posner propose that tort law is best understood as a system for achieving an efficient allocation of resources to safety--that, on the whole, rules and doctrines of tort law encourage the optimal investment in safety by potential injurers and potential victims. The book contains both a comprehensive description of the major doctrines of tort law and a series of formal economic models used to explore the economic properties of these doctrines. All the formal models are translated into simple commonsense terms so that the "math less" reader can follow the text without difficulty; legal jargon is also avoided, for the sake of economists and other readers not trained in the law. Although the primary focus is on explaining existing doctrines rather than on exploring their implementation by juries, insurance adjusters, and other "real world" actors, the book has obvious pertinence to the ongoing controversies over damage awards, insurance rates and availability, and reform of tort law-in fact it is an essential prerequisite to sound reform. Among other timely topics, the authors discuss punitive damage awards in products liability cases, the evolution of products liability law, and the problem of liability for "mass disaster" torts, such as might be produced by a nuclear accident. More generally, this book is an important contribution to the "law and economics" movement, the most exciting and controversial development in modern legal education and scholarship, and will become an obligatory reference for all who are concerned with the study of tort law.
Book Synopsis The Economic Structure of Tort Law by : William M. Landes
Download or read book The Economic Structure of Tort Law written by William M. Landes and published by Harvard University Press. This book was released on 1987 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a lawyer and an economist, this is the first full-length economic study of tort law--the body of law that governs liability for accidents and for intentional wrongs such as battery and defamation. Landes and Posner propose that tort law is best understood as a system for achieving an efficient allocation of resources to safety--that, on the whole, rules and doctrines of tort law encourage the optimal investment in safety by potential injurers and potential victims. The book contains both a comprehensive description of the major doctrines of tort law and a series of formal economic models used to explore the economic properties of these doctrines. All the formal models are translated into simple commonsense terms so that the "math less" reader can follow the text without difficulty; legal jargon is also avoided, for the sake of economists and other readers not trained in the law. Although the primary focus is on explaining existing doctrines rather than on exploring their implementation by juries, insurance adjusters, and other "real world" actors, the book has obvious pertinence to the ongoing controversies over damage awards, insurance rates and availability, and reform of tort law-in fact it is an essential prerequisite to sound reform. Among other timely topics, the authors discuss punitive damage awards in products liability cases, the evolution of products liability law, and the problem of liability for "mass disaster" torts, such as might be produced by a nuclear accident. More generally, this book is an important contribution to the "law and economics" movement, the most exciting and controversial development in modern legal education and scholarship, and will become an obligatory reference for all who are concerned with the study of tort law.
This book looks at the negligence concept of tort law and studies the efficiency issue arising from the determination of negligence. It does so by scrutinizing actual court decisions from three common law jurisdictions – Britain, India and the United States of America. This volume fills a very significant gap, scrutinizing 52 landmark judgments from these three countries, by focussing on the negligent affliction of economic loss determined by common law courts and how these findings relate to the existing theoretical literature. By doing so, it examines the formalization of legal concepts in theory, primarily the question of negligence determination and liability, and their centrality in theories concerning tort law. This book will be very helpful for students, professors and practitioners of law, jurisprudence and legal theory. It will additionally be of use to researchers and academics interested in law and economics, procedure and legal history.
Book Synopsis Economic Analysis of Tort Law by : Malabika Pal
Download or read book Economic Analysis of Tort Law written by Malabika Pal and published by Taylor & Francis. This book was released on 2019-09-02 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the negligence concept of tort law and studies the efficiency issue arising from the determination of negligence. It does so by scrutinizing actual court decisions from three common law jurisdictions – Britain, India and the United States of America. This volume fills a very significant gap, scrutinizing 52 landmark judgments from these three countries, by focussing on the negligent affliction of economic loss determined by common law courts and how these findings relate to the existing theoretical literature. By doing so, it examines the formalization of legal concepts in theory, primarily the question of negligence determination and liability, and their centrality in theories concerning tort law. This book will be very helpful for students, professors and practitioners of law, jurisprudence and legal theory. It will additionally be of use to researchers and academics interested in law and economics, procedure and legal history.
Book Synopsis Emergent order, agent-based modeling, and economic analysis of accident law by : Chad W. Seagren
Download or read book Emergent order, agent-based modeling, and economic analysis of accident law written by Chad W. Seagren and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Book Synopsis Economic Analysis of Liability Rules by : Satish Kumar Jain
Download or read book Economic Analysis of Liability Rules written by Satish Kumar Jain and published by Springer. This book was released on 2014-12-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Costs of Accidents by : Guido Calabresi
Download or read book The Costs of Accidents written by Guido Calabresi and published by . This book was released on 1972 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
