Liability for Accidents

Topics:
Fiduciary Liability,
Insurance
Tags:
Accident,
Human Resources,
Policies And Procedures
Source:
National Bureau of Economic Research

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Overview: This paper presents a survey of legal liability for accidents addressing three general aspects of accident liability. The first is the effect of liability on incentives, both whether to engage in activities and how much care to exercise to reduce risk when so doing. The second general aspect concerns risk-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential injurers. The third general aspect of accident liability is its administrative expense, comprising the cost of legal services, the value of litigants' time, and the operating cost of the courts.

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Format: PDF | Size: 350KB | Date: Nov 2005 | Pages: 42

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