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

Peter 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)
Pages: 40 pages
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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