Abstract

http://ssrn.com/abstract=480441
 
 

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Judgment Proofness Under Four Different Precaution Technologies


Giuseppe Dari-Mattiacci


University of Amsterdam - Amsterdam Center for Law and Economics (ACLE); Tinbergen Institute

Gerrit De Geest


Washington University in Saint Louis - School of Law


Journal of Institutional and Theoretical Economics, Vol. 161, No. 1, pp. 38-56, March 2005
George Mason Law & Economics Research Paper No. 04-03
Tjalling C. Koopmans Research Institute Discussion Paper Series No. 03-16

Abstract:     
This study shows that the effects of judgment proofness on precaution depend on whether the injurer can reduce the probability of the accident, the magnitude of the harm, or both. Different legal solutions to the problem are examined: punitive damages, average compensation, undercompensation, accurate compensation and negligence. We find that when the injurer can only reduce the probability of the accident, negligence with average compensation is the best solution, but negligence with perfectly compensatory damages is the desirable solution if the injurer can only or also affect the magnitude of the harm.

Number of Pages in PDF File: 24

Keywords: Insolvency, judgment proof, liability, bankruptcy

JEL Classification: K13, K32

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Date posted: December 27, 2003  

Suggested Citation

Dari-Mattiacci, Giuseppe and De Geest, Gerrit, Judgment Proofness Under Four Different Precaution Technologies. Journal of Institutional and Theoretical Economics, Vol. 161, No. 1, pp. 38-56, March 2005; George Mason Law & Economics Research Paper No. 04-03; Tjalling C. Koopmans Research Institute Discussion Paper Series No. 03-16. Available at SSRN: http://ssrn.com/abstract=480441 or http://dx.doi.org/10.2139/ssrn.480441

Contact Information

Giuseppe Dari-Mattiacci
University of Amsterdam - Amsterdam Center for Law and Economics (ACLE) ( email )
Roeterstraat 11
Amsterdam, 1018WB
Netherlands
HOME PAGE: http://darimattiacci.acle.nl
Tinbergen Institute
Roetersstraat 31
Amsterdam, 1018 WB
Netherlands
HOME PAGE: http://scholar.google.com/citations?user=AuUfjxUAAAAJ&hl=en
Gerrit De Geest (Contact Author)
Washington University in Saint Louis - School of Law ( email )
Campus Box 1120
St. Louis, MO 63130
United States
314-398-4941 (Phone)
HOME PAGE: http://www,degeest.wustl..edu
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