Determinants of State Tort Costs: The Predictive Power of the Harris State Liability Systems Ranking Study

19 Pages Posted: 1 Oct 2012

See all articles by Paul J. Hinton

Paul J. Hinton

The Brattle Group; NERA Economic Consulting; NERA Economic Consulting; NERA Economic Consulting

David McKnight

NERA Economic Consulting

Ronald I. Miller

NERA Economic Consulting

Date Written: September 28, 2012

Abstract

We study the determinants of tort costs using a novel establishment-cohort level dataset of commercial tort costs. We find that state rankings of perceptions of the fairness of the tort system produced for the Harris State Liability Systems Ranking Study conducted on behalf of the U.S. Chamber Institute for Legal Reform provide substantial predictive power for tort costs faced by business establishments. Direct measures of tort activity also help explain commercial tort costs. Other factors, such as state demographics have expected effects in explaining tort costs.

Keywords: torts, insurance, firm costs

JEL Classification: K13

Suggested Citation

Hinton, Paul J. and McKnight, David and Miller, Ron I., Determinants of State Tort Costs: The Predictive Power of the Harris State Liability Systems Ranking Study (September 28, 2012). Available at SSRN: https://ssrn.com/abstract=2154124 or http://dx.doi.org/10.2139/ssrn.2154124

Paul J. Hinton

The Brattle Group ( email )

1501 Broadway
New York, NY 10036
United States

NERA Economic Consulting ( email )

1166 Avenue of the Americas, 34th Floor
New York, NY 10036
United States
2123453000 (Phone)

NERA Economic Consulting ( email )

15 Stratford Place
London W1C 1BE
United Kingdom

NERA Economic Consulting ( email )

United States

David McKnight

NERA Economic Consulting ( email )

50 Main Street, 14th Floor
White Plains, NY 10606
United States

Ron I. Miller (Contact Author)

NERA Economic Consulting ( email )

1166 Avenue of the Americas, 34th Floor
New York, NY 10036
United States

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