Publikation:

The reasonable person standard : trading off static and dynamic efficiency

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2014

Autor:innen

Endres, Alfred

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https://doi.org/10.1007/s10657-011-9283-2
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European Journal of Law and Economics. 2014, 37(2), pp. 249-267. ISSN 0929-1261. eISSN 1572-9990. Available under: doi: 10.1007/s10657-011-9283-2

Zusammenfassung

This paper compares the performance of a due care standard which is tailored to individual precaution costs to that of the reasonable person standard. This is done in a framework in which injurers can reduce their precaution costs via investment in progressing care technology. We show that the reasonable person standard may invoke better investment incentives, pointing to a potential trade-off between static and dynamic efficiency.

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Fachgebiet (DDC)
330 Wirtschaft

Schlagwörter

Endogenous care technology, Due care standards, Reasonable person, Liability law, K13

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ISO 690ENDRES, Alfred, Tim FRIEHE, 2014. The reasonable person standard : trading off static and dynamic efficiency. In: European Journal of Law and Economics. 2014, 37(2), pp. 249-267. ISSN 0929-1261. eISSN 1572-9990. Available under: doi: 10.1007/s10657-011-9283-2
BibTex
@article{Endres2014reaso-30816,
  year={2014},
  doi={10.1007/s10657-011-9283-2},
  title={The reasonable person standard : trading off static and dynamic efficiency},
  number={2},
  volume={37},
  issn={0929-1261},
  journal={European Journal of Law and Economics},
  pages={249--267},
  author={Endres, Alfred and Friehe, Tim}
}
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