Integrating Punishment and Efficiency Concerns in Punitive Damages for Reckless Disregard of Risks to Others

Peter A. Diamond ()

Working papers from Massachusetts Institute of Technology (MIT), Department of Economics

Abstract: Punitive damages deter and punish. Using a social welfare function that incorporates both economic efficiency and a desire for retribution, this paper explores the effects of punitive damages in situations of reckless disregard that might be vie wed as outrageous.

Keywords: PENAL SANCTIONS; LAW (search for similar items in EconPapers)
JEL-codes: K10 K13 (search for similar items in EconPapers)
Date: 1997
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Journal Article: Integrating Punishment and Efficiency Concerns in Punitive Damages for Reckless Disregard of Risks to Others (2002)
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