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Full-Text Articles in Law
Should Tort Damages Be Multiplied?, Keith N. Hylton, Thomas J. Miceli
Should Tort Damages Be Multiplied?, Keith N. Hylton, Thomas J. Miceli
Faculty Scholarship
The notion that damages should be multiplied by the reciprocal of the probability of punishment is one of the basic lessons of the law and economics literature. However, the simple l/p" multiplier turns out be inapplicable in the civil damages setting. The multiplier that brings about first-best deterrence must be chosen by striking a balance between the supply of lawsuits and the need to internalize costs. Moreover, given the costs of litigation, a multiplier that minimizes overall social costs (in contrast to achieving first-best deterrence) may need to be set at a level that effectively bars many claims. This article …
Common Law Disclosure Duties And The Sin Of Omission: Testing The Meta-Theories, Kimberly Krawiec, Kathryn Zeiler
Common Law Disclosure Duties And The Sin Of Omission: Testing The Meta-Theories, Kimberly Krawiec, Kathryn Zeiler
Faculty Scholarship
Since ancient times, legal scholars have explored the vexing question of when and what a contracting party must disclose to her counterparty, even in the absence of explicit misleading statements. This fascination has culminated in a set of claims regarding which factors drive courts to impose disclosure duties on informed parties. Most of these claims are based on analysis of a small number of non-randomly selected cases and have not been tested systematically. This article represents the first attempt to systematically test a number of these claims using data coded from 466 case decisions spanning over a wide array of …