Abstract

http://ssrn.com/abstract=2117245
 
 

Footnotes (151)



 


 



The Law and Economics of Products Liability


Keith N. Hylton


Boston University - School of Law

July 25, 2012

Boston Univ. School of Law, Public Law Research Paper No. 12-39
Boston Univ. School of Law, Law and Economics Research Paper No. 12-39

Abstract:     
This paper presents a largely positive analysis of products liability law, in the sense that it aims to predict the incentive effects and the welfare consequences of the law, with close regard to its specific legal tests and the real-world constraints that impinge on these tests. The other major part of this paper is a normative assessment of the parts of products liability law that should be reformed. In contrast with the prevailing law and economics literature suggesting that products liability law reduces social welfare, I argue that the law probably improves social welfare, though it is in need of reform in several respects.

Number of Pages in PDF File: 52

Keywords: products liability, strict liability, risk utility, consumer expectations, design defect, manufacturing defect, failure to warn

JEL Classification: K00, K13

working papers series





Download This Paper

Date posted: July 25, 2012  

Suggested Citation

Hylton, Keith N., The Law and Economics of Products Liability (July 25, 2012). Boston Univ. School of Law, Public Law Research Paper No. 12-39; Boston Univ. School of Law, Law and Economics Research Paper No. 12-39. Available at SSRN: http://ssrn.com/abstract=2117245 or http://dx.doi.org/10.2139/ssrn.2117245

Contact Information

Keith N. Hylton (Contact Author)
Boston University - School of Law ( email )
765 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
617-353-3077 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 820
Downloads: 225
Download Rank: 81,042
Footnotes:  151

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.375 seconds