Social Wealth and Optimal Care
Giuseppe Dari-Mattiacci and
No 2008-34, EconomiX Working Papers from University of Paris Nanterre, EconomiX
Many industrial accidents result in losses (material damages or bodily injury) that cannot be perfectly compensated by a monetary payment, nor be perfectly insured. Moreover, often injurers control ex ante the magnitude rather than the probability of accidents. We study the characteristics of optimal levels of care and distribution of risk under these circumstances. We then examine whether ordinary liability rules, regulation, insurance, taxes and subsidies can be used to implement the first-best outcome. Finally, our results are discuss in the light of fairness considerations (second best view).
Keywords: accidents; risk; wealth; care; bodily injury (search for similar items in EconPapers)
Pages: 27 pages
New Economics Papers: this item is included in nep-ias
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Journal Article: Social Wealth and Optimal Care (2012)
Working Paper: Social wealth and optimal care (2012)
Working Paper: Social wealth and optimal care (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2008-34
Access Statistics for this paper
More papers in EconomiX Working Papers from University of Paris Nanterre, EconomiX Contact information at EDIRC.
Bibliographic data for series maintained by Valerie Mignon ().