Vicarious Liability Under a Strict Liability Rule

Chun Se-Hak and Jeong-Yoo Kim
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Chun Se-Hak: Seoul National University of Science and Technology, Nowon-gu, Seoul, Korea

Asian Journal of Law and Economics, 2021, vol. 12, issue 3, 287-297

Abstract: In this article, we extend the model of Newman, H., and D. Wright. 1990. “Strict Liability in a Principal-Agent Model.” International Review of Law and Economics 10: 219–231 and strengthens their result that the strict liability can attain social optimum in a principal-agent relation to the situation in which the court appreciates any contractual terms regarding apportionment of damages between an employer and an employee under vicarious liability rule. Our model also generalizes and extends vicarious liability to the negligence-based liability rule.

Keywords: vicarious liability; strict liability; joint and several liability; negligence rule; judgement-proof (search for similar items in EconPapers)
JEL-codes: K13 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1515/ajle-2021-0045

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