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Property Rules Versus Liability Rules: An Economic Analysis
(Harvard Law School, 1996)
Should property rights be protected absolutely -- by property rules -- or instead by the requirement that infringing parties pay for harm done--that is, by liability rules? In this article, we present a systematic economic ...
Accuracy in the Determination of Liability
(University of Chicago Press, 1994)
No abstract provided.
Accuracy in the Assessment of Damages
(University of Chicago Press, 1996)
Assessment of damages is a principal issue in litigation and, in light of this, we consider the social justification for, and the private benefits of, accurate measurement of harm. Greater accuracy induces injurers to ...
Why the Legal System Is Less Efficient than the Income Tax in Redistributing Income
(University of Chicago Press, 1994)
No abstract provided.
Optimal Law Enforcement with Self-Reporting of Behavior
(University of Chicago Press, 1994)
Self-reporting--the reporting by parties of their own behavior to an enforcement authority--is a commonly observed aspect of law enforcement, such as in the context of environmental and safety regulation. We add self-reporting ...