Webb4 jan. 2024 · This Article contends that Kaplow and Shavell’s comparison of rules of taxation to rules of tort fails to take proper account of the powerful role that … Webb10 apr. 2024 · Furthermore, Kaplow and Shavell argue that such valuations may not even be accurate on average from the perspective of the traders, as they may both have information unavailable to the court. In this case, they argue that property rules may be superior to liability rules.

Steven Shavell - Wikipedia

WebbSymposium: Globalization and the Judiciary: Key Issues of Economic Law, Business Law, and Human Rights Law Texas International Law Journal, Vol. 39, Issue 3 (Spring 2004), pp. 367 Webb10 apr. 2024 · Kaplow and Shavell suggest that if transaction costs are low (essentially zero), the Becker framework would still be efficient—in other words, the choice between property rules and liability rules is a matter of indifference to the social planner when transaction costs are absent. 19 However, any model that takes human behavioral … free neon fonts download

Economic Analysis of Law - Louis Kaplow, Steven Shavell

WebbKaplow and Shavell conclude that liability rules are superior to property rules “on average . . . regardless of how imperfect the state’s information is about harm or prevention cost.” 86 Also, in Kaplow and Shavell’s view, the need to estimate average harm is not a significant barrier to using liability rules. WebbL. REV. 1089, 1092 (1972); Louis Kaplow & Steven Shavell, Property Rules versus Liability Rules: An Economic Analysis, 109 HARV. L. REV. 713, 757 (1996). 3 The distinction between property rules and liability rules was first proposed by Calabresi and Melamed in their path-breaking article, Calabresi & Melamed, supra note 2. WebbSee Louis Kaplow & Steven Shavell, Property Rules Versus Liability Rules 30 n.58, 33 n.63 (Harvard Law School Program in Law and Economics, Discussion Paper No. 156, … farley home improvement