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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 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 ...