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Articles 1 - 3 of 3
Full-Text Articles in Torts
Toward A Tax-Based Explanation Of The Liability Insurance Crisis, Kyle D. Logue
Toward A Tax-Based Explanation Of The Liability Insurance Crisis, Kyle D. Logue
Articles
The so-called liability insurance crisis of 1985 and 1986 transformed the way we think about tort law and about liability insurance markets. The crisis phenomena, which first appeared in late 1984 and lasted until mid-1986, consisted of enormous increases in liability insurance premiums and alarming reductions in the availability of certain types of liability coverage. In the two principal liability lines of insurance (Other Liability and Medical Malpractice), premiums increased by hundreds (in some cases thousands) of percentage points in a matter of months. At the same time, the availability of liability insurance contracted sharply. The liability policies that were …
On The Genealogy Of Moral Hazard, Tom Baker
On The Genealogy Of Moral Hazard, Tom Baker
All Faculty Scholarship
No abstract provided.
A Missing Markets Theory Of Tort Law, Keith N. Hylton
A Missing Markets Theory Of Tort Law, Keith N. Hylton
Faculty Scholarship
This Article provides a framework for reconciling the tension between tort doctrine and economic theory, and for addressing the general failure of economically oriented theories to come to grips with doctrine at a detailed level. My claim is that tort doctrine should be viewed as a response to the incompleteness of markets, or more generally the problem of missing markets. Because of market incompleteness, some of the benefits as well as costs associated with activities will be shifted or "externalized" to third parties. Tort doctrine reflects sensitivity to the externalization of benefits and costs. It can therefore be understood only …