Limiting Limited Liability

Giuseppe Dari-Mattiacci

Economics Bulletin, 2006, vol. 11, issue 1, 1-7

Abstract: Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability cap can improve caretaking.

JEL-codes: K1 (search for similar items in EconPapers)
Date: 2006-06-14
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Citations: View citations in EconPapers (7)

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