|
|
|
|
||||
|
||||
The Changing Landscape of Blockbuster Punitive Damages AwardsAlison F. Del RossiSaint Lawrence University - Department of Economics W. Kip ViscusiVanderbilt University - Law School; National Bureau of Economic Research (NBER); Vanderbilt University - Department of Economics; Vanderbilt University - Owen Graduate School of Management; Vanderbilt University - Strategy and Business Economics October 19, 2009 American Law and Economics Review, Forthcoming Vanderbilt Law and Economics Research Paper No. 09-33 Abstract: This article investigates the determinants of the blockbuster punitive damages awards of at least $100 million. As of the end of 2008, there had been 100 such awards with an average value of $3.0 billion. The U.S. Supreme Court decision in State Farm v. Campbell suggested a single digit upper bound on the punitive damages/compensatory damages ratio, which reduced the annual number of blockbuster awards, the total annual value of blockbuster awards, and the punitive damages/compensatory damages ratio. Applying the 1:1 ratio from Exxon Shipping Co. et al. v. Baker et al. broadly would eliminate most of the blockbuster awards.
Number of Pages in PDF File: 65 Keywords: punitives, punitive damages, blockbuster awards, compensatory damages, damages ratio, Exxon JEL Classification: K40, K10 Accepted Paper SeriesDate posted: December 2, 2009Suggested CitationContact Information
|
|
|||||||||||||||||||||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo6 in 0.734 seconds
