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OverviewThis 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 DetailsAuthor: Satish Kumar JainPublisher: Springer, India, Private Ltd Imprint: Springer, India, Private Ltd Edition: Softcover reprint of the original 1st ed. 2015 Dimensions: Width: 15.50cm , Height: 1.00cm , Length: 23.50cm Weight: 2.993kg ISBN: 9788132235026ISBN 10: 8132235029 Pages: 180 Publication Date: 23 August 2016 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of ContentsReviewsThe 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 InformationSatish 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. Tab Content 6Author Website:Countries AvailableAll regions |
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