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Customary versus technological advancement tests

Bruno Deffains and Dominique Demougin ()

International Review of Law and Economics, 2008, vol. 28, issue 2, 106-112

Abstract: In an environment where the optimal level of care is unknown, we ask, under a state-of-the-art defense, which method is better able to induce parties to undertake optimal care. Assuming courts can see a noisy signal of research activities undertaken by a defendant and by some of its competitors, we ask whether courts should use a biased or an unbiased average to compare care. We find that the latter is advantageous.

Date: 2008
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Handle: RePEc:eee:irlaec:v:28:y:2008:i:2:p:106-112