Download or read book Products Liability Signaling and Disclosure written by Andrew F. Daughety and published by . This book was released on 2007 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we examine the behavior of a firm that produces a product with a privately-observed safety attribute; that is, consumers cannot observe directly the product's safety. The firm may, at a cost, disclose its safety prior to sale; alternatively, if a firm does not disclose its safety then consumers can attempt to infer its safety from the price charged. The liability system is important because it is a determinant of the firm's full marginal cost, which consists of both manufacturing cost and liability cost. If the firm does not bear substantial liability for a consumer's harm, then the firm's marginal cost consists mainly of manufacturing cost, which is presumably higher for safer products. On the other hand, if the firm does bear substantial liability for a consumer's harm, then the firm's marginal cost consists of both manufacturing cost and liability cost. In this case, it is quite possible for a firm producing a safer product to have lower full marginal cost. We characterize the firm's equilibrium disclosure and pricing behavior, and compare that behavior and the associated welfare to what would occur under a regime of mandatory disclosure. We derive a range of disclosure costs that would induce a high-safety firm to choose disclosure over signaling. When the firm's full marginal cost is increasing (decreasing) in safety, a firm with a high-safety product will sometimes inefficiently choose to signal rather than disclose (disclose rather than to signal). Furthermore, we find that whether ex ante information regulation (in the form of mandatory disclosure) or reliance on ex post liability that induces information revelation is the better policy also depends upon whether the firm faces substantial liability for a consumer's harm. Finally, we find that a small fraction of naively optimistic consumers (who always buy as if the product were of high safety) leads to higher profits for both less-safe and safer products, and a reduced incentive for voluntary disclosure.
Download or read book Research Handbook on the Economics of Torts written by Jennifer Arlen and published by Edward Elgar Publishing. This book was released on 2013-11-29 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on issues of vital importance to those seeking to understand and reform the tort system, this volume takes a multi-disciplinary approach, including theoretical economic analysis, empirical analysis, socio-economic analysis, and behavioral anal
Download or read book Journal of Institutional and Theoretical Economics written by and published by . This book was released on 2008 with total page 846 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Logic of Securities Law written by Nicholas L. Georgakopoulos and published by Cambridge University Press. This book was released on 2017-05-04 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book opens with a simple introduction to financial markets, attempting to understand the action and the players of Wall Street by comparing them to the action and the players of main street. Firstly, it explores the definition of a security by its function, the departure from the buyer beware environment of corporate law and the entrance into the seller disclose environment of securities law. Secondly, it shows that the cost of disclosure rules is justified by their capacity to combat irrationalities, fads, and panics. The third section explains how the structure of class actions is designed to improve deterrence. Next it explores the economic harm from insider trading and how the law fights it. In sum, the book shows how all these parts of securities law serve the virtuous cycle from liquidity to accurate prices and more trading and how the great recession showed that our securities regulation reacted mostly adequately to the crisis.
Download or read book Tort Law and Economics written by Michael Faure and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central goal of this book is to provide a state-of-the-art overview of the literature with respect to the economic analysis of tort law. It sure meets the challenge, offering with great expertise a comprehensive presentation of tort law in both economic and comparative perspectives. The clarity of the text, unusual in the law and economics literature, makes the book accessible to a broad readership of economists with a limited legal background and lawyers with limited economic skills. Olivier Moreteau, Louisiana State University, US Tort Law and Economics, ed. Michael Faure, provides a highly useful economic overview of the most important topics of tort law. The authors clearly show the main developments of the discussion, examining the results of recent studies and stating their own opinions. Detailed bibliographies are included. The volume has to be warmly recommended to friends and foes of economic analysis who are provided with a comprehensive update in this field while also indicating areas which critics have to focus on. Helmut Koziol, European Centre of Tort and Insurance Law, Austria This volume provides a state-of-the-art overview of the literature on the economic analysis of tort law. In sixteen chapters, the specialist authors guide the reader through the often vast literature in each domain providing a balanced and comprehensive summary. Particular attention is paid to the evolution of the field, further refinements to economic models and relevant conclusions and lessons for the policymaker. Tort Law and Economics is part of the Encyclopedia of Law and Economics, and enables readers, some not familiar with law and economics, to obtain an insight in the relevant economic literature concerning tort law and economics. This book will be of interest to lawyers and economists, practitioners and academics interested in accident law, tort law, insurance and regulation. It will also appeal to students in economic analysis of law and policymakers working on prevention of accidents, tort law or compensation of accident victims.
Download or read book Managerial Decision Making From the Perspectives of Behavioral Science and Neuroscience written by Wuke Zhang and published by Frontiers Media SA. This book was released on 2023-03-03 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Patient Safety and Quality written by Ronda Hughes and published by Department of Health and Human Services. This book was released on 2008 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Nurses play a vital role in improving the safety and quality of patient car -- not only in the hospital or ambulatory treatment facility, but also of community-based care and the care performed by family members. Nurses need know what proven techniques and interventions they can use to enhance patient outcomes. To address this need, the Agency for Healthcare Research and Quality (AHRQ), with additional funding from the Robert Wood Johnson Foundation, has prepared this comprehensive, 1,400-page, handbook for nurses on patient safety and quality -- Patient Safety and Quality: An Evidence-Based Handbook for Nurses. (AHRQ Publication No. 08-0043)." - online AHRQ blurb, http://www.ahrq.gov/qual/nurseshdbk/
Download or read book More Than You Wanted to Know written by Omri Ben-Shahar and published by Princeton University Press. This book was released on 2014-04-20 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: How mandated disclosure took over the regulatory landscape—and why it failed Perhaps no kind of regulation is more common or less useful than mandated disclosure—requiring one party to a transaction to give the other information. It is the iTunes terms you assent to, the doctor's consent form you sign, the pile of papers you get with your mortgage. Reading the terms, the form, and the papers is supposed to equip you to choose your purchase, your treatment, and your loan well. More Than You Wanted to Know surveys the evidence and finds that mandated disclosure rarely works. But how could it? Who reads these disclosures? Who understands them? Who uses them to make better choices? Omri Ben-Shahar and Carl Schneider put the regulatory problem in human terms. Most people find disclosures complex, obscure, and dull. Most people make choices by stripping information away, not layering it on. Most people find they can safely ignore most disclosures and that they lack the literacy to analyze them anyway. And so many disclosures are mandated that nobody could heed them all. Nor can all this be changed by simpler forms in plainer English, since complex things cannot be made simple by better writing. Furthermore, disclosure is a lawmakers' panacea, so they keep issuing new mandates and expanding old ones, often instead of taking on the hard work of writing regulations with bite. Timely and provocative, More Than You Wanted to Know takes on the form of regulation we encounter daily and asks why we must encounter it at all.
Download or read book Product Liability Voluntary Claims and Uniform Standards Act written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee for Consumers and published by . This book was released on 1986 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Drug and Medical Device Product Liability Deskbook written by James Beck and published by Law Journal Press. This book was released on 2004 with total page 982 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely guide covers all aspects of litigation involving drugs, medical devices, vaccines and other FDA-regulated prescription products.
Download or read book The Oxford Handbook of Law and Economics written by Francesco Parisi and published by Oxford University Press. This book was released on 2017-04-27 with total page 635 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering over one-hundred topics on issues ranging from Law and Neuroeconomics to European Union Law and Economics to Feminist Theory and Law and Economics, The Oxford Handbook of Law and Economics is the definitive work in the field of law and economics. The book gathers together scholars and experts in law and economics to create the most inclusive and current work on law and economics. Edited by Francisco Parisi, the Handbook looks at the origins of the field of law and economics, tracks its progression and increased importance to both law and economics, and looks to the future of the field and its continued development by examining a cornucopia of fields touched by work in law and economics. The uniqueness of its breadth, depth, and convenience make the volume essential to scholars, students, and contributors in the field of law and economics.
Download or read book Warnings and Product Liability written by Sanne Pape and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: European Union citizens are injured each year while using products. Product liability law can contribute to preventing such damage by the way in which liability requirements in the context of warnings are framed and applied. Underlying these warning issues are a number of legal presumptions about how humans behave and interact with products and with their warnings. Primarily, liability law presumes that warnings can be effective in modifying user behavior. Relative to this is the manner in which courts or litigants evaluate product warnings in European product liability law. To rule more consistently and effectively in warning issues, a solution resides in the use of guidelines in European product liability laws that are based on empirical evidence on how humans interact with warnings. This book undertakes a behavioral approach towards the topic of warnings and product liability. Insights from cognitive psychology and ergonomics are essential for a thorough legal analysis of warnings, as they can shed light on people's abilities and limitations with regard to processing warning information, as well as on how the design of products can contribute to preventing accidents. (Series: Civilology - No. 2)
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 2008 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Routledge Handbook of Integrated Reporting written by Charl de Villiers and published by Routledge. This book was released on 2020-05-11 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely handbook provides a current and comprehensive examination of integrated reporting, both practical and research-based. It offers insights and different perspectives from more than 60 authors, including representatives of the International Integrated Reporting Council, Integrated Reporting Committee of South Africa, professional bodies and audit firms, as well as leading academics in the fields of integrated reporting, sustainability reporting and corporate social responsibility. This collected work provides an in-depth review of the development of integrated reporting, with a focus on the interpretation and guidance provided by the International Integrated Reporting Council. It encourages the development of new thinking and research topics in the area of integrated reporting (such as links between integrated reporting and reports focused on financial and corporate social responsibility matters), as well as showcasing how integrated reporting issues are seen and practiced in different parts of the world. The chapters include reviews of the most recent research, practitioner viewpoints, conceptual pieces, case studies and disclosure analyses. Accessible and engaging, this handbook will be an invaluable overview for those new to the field or those who are interested in ensuring they are up to date with its developments, as well as those who are concerned with how to construct an integrated report.
Download or read book Shapo on the Law of Products Liability written by Marshall S. Shapo and published by Wolters Kluwer. This book was released on 2012-10-22 with total page 3484 pages. Available in PDF, EPUB and Kindle. Book excerpt: A proliferation of lawsuits involving sport utility vehicles, defective tires, medical devices and drugs, and asbestos abounds. Public attention to products liability cases is at an all-time high, and awards routinely run into the millions of dollars. When developing a strategy in this high stakes world, attorneys can't afford to have anything other than the best information and insight into this evolving area of law. Lawyers need practical tools to assess a products liability case's potential and build their approach, and Shapo on the Law of Products Liability provides the tools to give you the winning edge. Through a holistic analysis of the law and its principal developments as witnessed in hundreds of cases, this treatise gives litigators a wide variety of perspectives on potential strategies, and the tools to support those strategies with persuasive arguments. This authoritative two-volume work will enable you to: Assess products liability case potential and build sound litigation strategies Dig deep into products liability law to build creative approaches to litigation Craft a winning case and reap the greatest reward for your clients Find the tools and information to support strategies with persuasive arguments Both federal and state courts contribute a rich mix of decisions to products liability law, which covers both consumer products and occupational hazards. This indispensable resource for the products liability practitioner helps you prepare your case. Is the product defective? Who is liable? What is the manufacturer's responsibility? Who can be sued? What kind of awards may be realized? How might this be defended? Shapo on the Law of Products Liability also includes coverage of: Asbestos litigation Chinese drywall Food and drug Medical devices Design/manufacturing defects claims Punitive damages Discovery rule Up to date analysis and commentary History and background on products liability law Damages Advertising material Packaging Marshall S. Shapo, the Frederic P. Vose Professor at Northwestern University School of Law, is a nationally recognized authority on torts and products liability law.
Download or read book The Governance of Credit Rating Agencies written by Andrea Miglionico and published by Edward Elgar Publishing. This book was released on 2019 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global crisis revealed that credit rating agencies (CRAs) are capable of bringing about potential distortions in the financial sector, thereby resulting in a reduction in market confidence which, in turn, influences negotiations and expectations. CRAs need to be held accountable for lack of transparency and inaccurate ratings, however the existing regulatory framework does not secure adequate investor protection. This book provides a new and important contribution to research in the area, at a crucial time in the debate around financial regulation and investment regimes.
Download or read book Handbook of Marketing and Society written by Paul N. Bloom and published by SAGE. This book was released on 2001 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marketing scholars have a long history of conducting research on how marketing affects the welfare of society. A significant body of knowledge has developed to look beyond marketing's impact on the corporate bottom line towards the affects of marketing on consumer sovereignty, public health, economic growth, and other aspect of societal welfare. The large and growing amount of research has become fragmented and diverse. There is a need for a volume to pull all of this research together to facilitate the assessment of what we have learned and what we need to study further. This volume fills that need! Handbook of Marketing and Society presents the first comprehensive, in-depth examination of scholarly research on how marketing affects societal welfare. Drawing on the talents of a distinguished group of contributors, the editors have assembled key reviews, analyses, and perspectives on a broad range of research topics including deceptive advertising, warning labels, trademark infringement, antitrust enforcement, environmental labels, privacy protection, social marketing, and corporate societal marketing. An unifying model is presented in the introduction that illustrates the linkage of marketing knowledge, marketing decisions, and societal welfare. Each chapter covers, in a purposeful way, a different link or path through which marketing can affect societal welfare. Future research needs are identified in each chapter in order to help focus marketing thinking and marketing practice serve society more effectively. Academics, graduate students, and others interested in marketing's role in society will find this a valuable resource and an excellent guidebook for future research.
