What Drives the Passage of Damage Caps?
University of Pennsylvania Law School; Erasmus School of Law; PERC - Property and Environment Research Center
Catherine M. Sharkey
New York University School of Law
February 13, 2009
EMPIRICAL STUDIES OF JUDICIAL SYSTEMS AROUND THE GLOBE, Institutum Jurisprudentiae, Academia Sinica, 2009
NYU Law and Economics Research Paper No. 09-08
U of Penn, Inst for Law & Econ Research Paper No. 09-09
A number of states have passed caps on non-economic and punitive damage awards in civil cases. The conventional wisdom is that the passage of these caps is driven by "out-of-control" jury awards that need to be reigned in. However, it could be the case that voters harboring anti-litigation, pro-tort reform sentiments are more likely to support the passage of caps even in the absence of an upsurge in awards. To examine the effect of jury awards on the passage of caps, we estimate semi-parametric hazard models of cap passage using data from the Jury Verdict Research Reporter.
Number of Pages in PDF File: 20
Keywords: punitive damages, caps, damage caps, jury awards
JEL Classification: C14, C41, K13, K41Accepted Paper Series
Date posted: February 14, 2009 ; Last revised: April 22, 2012
© 2015 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo2 in 0.328 seconds