Economics of the Law: Torts, Contracts, Property, Litigation

By Thomas J. Miceli | Go to book overview
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CONTENTS
ONE Introduction3
1. Efficiency Concepts4
2. The Coase Theorem7
3. Themes10
4. Plan of the Book11
TWO The Economics of Tort Law: The Basic Model15
1. The Basic Accident Model16
2. The Hand Rule and Causation20
3. Individualized versus Average Standards: The Reasonable Person25
4. Activity Levels and Accident Risk27
5. Issues in the Determination of Damages33
6. Summary37
THREE The Economics of Tort Law: Extensions39
1. Litigation Costs39
2. The Impact of Uncertainty About Legal Standards, Causation, and Risk44
3. Sequential Care Torts and Strategic Behavior58
4. Summary70
FOUR. The Economics of Contract Law: Remedies for Breach71
1. Court-Imposed Damage Remedies72
2. Risk Sharing and Remedies for Breach76
3. Asymmetric Information and Limited Liability for Breach78
4. Liquidated Damages83

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