The Economics of Tort Law: A Precis

Jürgen G. Backhaus(ed.) Elgar Companion to Law and Economics (2nded.), Cheltenham: Edward Elgar, pp. 87-102, 2005

George Mason Law & Economics Research Paper No. 03-49

27 Pages Posted: 16 Oct 2003

See all articles by Giuseppe Dari‐Mattiacci

Giuseppe Dari‐Mattiacci

University of Amsterdam; Tinbergen Institute; European Corporate Governance Institute (ECGI)

Francesco Parisi

University of Minnesota - Law School; University of Bologna; University of Miami, School of Law

Abstract

Economic analysis has long been employed for the study of tort liability. This paper revisits the main contributions to the subject emphasizing the inherent impossibility for tort liability to set perfectly efficient first-best incentives to take precaution for all parties to an accident and the need to choose among second best outcomes. The paper provides a pathfinder through the literature in various areas of tort law and economics.

Suggested Citation

Dari-Mattiacci, Giuseppe and Parisi, Francesco, The Economics of Tort Law: A Precis. Jürgen G. Backhaus(ed.) Elgar Companion to Law and Economics (2nded.), Cheltenham: Edward Elgar, pp. 87-102, 2005, George Mason Law & Economics Research Paper No. 03-49, Available at SSRN: https://ssrn.com/abstract=458701 or http://dx.doi.org/10.2139/ssrn.458701

Giuseppe Dari-Mattiacci

University of Amsterdam ( email )

Postbus 15654
1001 ND
Amsterdam, Noord-Holland 1001 ND
Netherlands

Tinbergen Institute ( email )

Burg. Oudlaan 50
Rotterdam, 3062 PA
Netherlands

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

Francesco Parisi (Contact Author)

University of Minnesota - Law School ( email )

229 19th Avenue South
Minneapolis, MN 55455
United States

University of Bologna ( email )

Piazza Scaravilli 1
40126 Bologna, fc 47100
Italy

University of Miami, School of Law ( email )

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