Abstract

http://ssrn.com/abstract=1331071
 
 

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The Economics of Nuisance Law


Keith N. Hylton


William Fairfield Warren Distinguished Professor, Boston University; Professor of Law, Boston University School of Law

January 21, 2009

RESEARCH HANDBOOK ON THE ECONOMICS OF PROPERTY LAW, K. Ayotte & H. E. Smith, eds., Edward Elgar, 2009
Boston Univ. School of Law Working Paper No. 09-05

Abstract:     
Economic analysis of nuisance law can be divided into two branches: the transaction cost model and the externality model. The two models provide a relatively complete positive theory of nuisance law. Under the externality model, nuisance law optimally regulates activity levels. Nuisance law induces actors to choose socially optimal activity levels by imposing liability when externalized costs are far in excess of externalized benefits or not reciprocal to other background external costs. Proximate cause doctrine plays an important role in inducing optimal activity levels.

Number of Pages in PDF File: 23

Keywords: Nuisance Law, transaction cost model, externality model, proximate cause doctrine, socially optimal activity levels

JEL Classification: K00, K13, K32

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Date posted: January 23, 2009 ; Last revised: July 14, 2010

Suggested Citation

Hylton, Keith N., The Economics of Nuisance Law (January 21, 2009). RESEARCH HANDBOOK ON THE ECONOMICS OF PROPERTY LAW, K. Ayotte & H. E. Smith, eds., Edward Elgar, 2009; Boston Univ. School of Law Working Paper No. 09-05. Available at SSRN: http://ssrn.com/abstract=1331071

Contact Information

Keith N. Hylton (Contact Author)
William Fairfield Warren Distinguished Professor, Boston University ( email )
595 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
Professor of Law, Boston University School of Law ( email )
765 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
617-353-3077 (Fax)
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