The reasonable person standard : trading off static and dynamic efficiency
| Type of Publication: | Journal article |
| Author: | Endres, Alfred; Friehe, Tim |
| Year of publication: | 2014 |
| Published in: | European Journal of Law and Economics ; 37 (2014), 2. - pp. 249-267. - ISSN 0929-1261. - eISSN 1572-9990 |
| DOI (citable link): | https://dx.doi.org/10.1007/s10657-011-9283-2 |
| Summary: |
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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| Subject (DDC): | 330 Economics |
| Keywords: | 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
@article{Endres2014reaso-30816, title={The reasonable person standard : trading off static and dynamic efficiency}, year={2014}, doi={10.1007/s10657-011-9283-2}, 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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