Private Product-Risk Assessment and the Role of Government
E. Donald Elliott
Yale Law School
Gail Charnley Elliott
affiliation not provided to SSRN
July 15, 2009
John Liner Review, Vol. 23, p. 72, Summer 2009
Compares public risk assessment and private risk assessments conducted companies before placing new products on the market. Concludes companies are driven by a value of information approach and wish to avoid competitive disadvantage, not necessarily to minimize liability. Compares inventives for private and governmental risk assessments. Considers whether government should regulate pre-introduction due diligence for products by analogy to ASTM standards and EPA's "all appropriate inquiry" rule for pre-purchase due diligence of real property by creating safe harbors against punitive damages.
Number of Pages in PDF File: 11
Keywords: Product Liability, Due Diligence, Risk Assessment, Punitive Damages
JEL Classification: D81, K13, K20Accepted Paper Series
Date posted: November 20, 2010
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