STRICT LIABILITY VS NEGLIGENCE: IS ECONOMIC EFFICIENCY A RELEVANT COMPARISON CRITERION?

Gerard Mondello

Working Papers from HAL

Abstract: The efficiency criterion (the highest care level at the lowest accident cost) indisputably governs the comparison of performance between strict liability and negligence. This view stems from the standard accident model development in the 70's and the 80's that ensures under ideal conditions, the equivalence between regimes and assume their potential substitutability. We develop a more general accident model (under risk universe) with divergent views among the parties about the damage. It follows that efficiency is no longer a relevant criterion. liability regimes belong to specific fields: Ultra-hazardous activities for strict liability and the remaining areas of negligence.

Keywords: Strict Liability; Unilateral Accident Model; Negligence Rule; Ultra-hazardous activities (search for similar items in EconPapers)
Date: 2021-12-26
New Economics Papers: this item is included in nep-his and nep-law
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Working Paper: Strict Liability vs Negligence: Is Economic Efficiency a Relevant Comparison Criterion? (2020)
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