Overview
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.
Full Product Details
Author: Satish Kumar Jain
Publisher: Springer, India, Private Ltd
Imprint: Springer, India, Private Ltd
Edition: 2015 ed.
Dimensions:
Width: 15.50cm
, Height: 1.30cm
, Length: 23.50cm
Weight: 4.144kg
ISBN: 9788132220282
ISBN 10: 8132220285
Pages: 180
Publication Date: 12 December 2014
Audience:
Professional and scholarly
,
Professional & Vocational
Format: Hardback
Publisher's Status: Active
Availability: Manufactured on demand
We will order this item for you from a manufactured on demand supplier.
Reviews
“The book under review is an excellent text which deals with some key topics in the field of law and economics … . most fascinating element of this book is its elegant framework of analysis which is simple and yet quite general and rigorous. … This book has the potential to foster further study of law and legal system … . It is highly recommended for those who are looking for research agenda in the field of law and economics.” (Papiya Ghosh, Indian Economic Review, Vol. 52, 2017)
The book under review is an excellent text which deals with some key topics in the field of law and economics ... . most fascinating element of this book is its elegant framework of analysis which is simple and yet quite general and rigorous. ... This book has the potential to foster further study of law and legal system ... . It is highly recommended for those who are looking for research agenda in the field of law and economics. (Papiya Ghosh, Indian Economic Review, Vol. 52, 2017)
Author Information
Satish K. Jain is Professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University (JNU), New Delhi, India. He did his Master’s in Economics from Delhi School of Economics, and Ph.D. from the University of Rochester, USA. His areas of interest are law and economics, and social choice theory.
