The reasonable person standard : trading off static and dynamic efficiency

Publikationstyp: Zeitschriftenartikel
Autor/innen: Endres, Alfred; Friehe, Tim
Erscheinungsjahr: 2014
Erschienen in: European Journal of Law and Economics ; 37 (2014), 2. - S. 249-267. - ISSN 0929-1261. - eISSN 1572-9990
DOI (zitierfähiger Link): https://dx.doi.org/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.
Fachgebiet (DDC): 330 Wirtschaft
Schlagwörter: Endogenous care technology, Due care standards, Reasonable person, Liability law, K13

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ENDRES, Alfred, Tim FRIEHE, 2014. The reasonable person standard : trading off static and dynamic efficiency. In: European Journal of Law and Economics. 37(2), pp. 249-267. ISSN 0929-1261. eISSN 1572-9990. Available under: doi: 10.1007/s10657-011-9283-2

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