3,894 research outputs found

    Products Liability, Consumer Misperceptions, and Market Power

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    This paper compares alternative liability rules for allocating losses from defective products when consumers under- estimate these losses and producers may have some market power. If producers do not have any market power, the rule of strict liability .leads to both the first-best accident probability and industry output. If producers do have some market power, strict liability still leads to the first-best accident probability, but there will now be too little output of the industry. It is shown that if market power is sufficiently large, a negligence rule is preferable. Under this rule, firms can still be induced to choose the first-best accident probability, but now the remaining damages are borne by consumers. Since consumers underestimate these damages, they buy more than under strict liability. However, there is a limit to how much the negligence rule can encourage extra consumption. It is shown that if market power is sufficiently large, the rule of no liability may then be preferred to the negligence rule. Without any liability imposed, producers will not choose the first-best accident probability. However, this may be more than compensated for by the increased output of the industry.

    Non-principal surface waves in deformed incompressible materials

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    The Stroh formalism is applied to the analysis of infinitesimal surface wave propagation in a statically, finitely and homogeneously deformed isotropic half-space. The free surface is assumed to coincide with one of the principal planes of the primary strain, but a propagating surface wave is not restricted to a principal direction. A variant of Taziev’s technique [R.M. Taziev, Dispersion relation for acoustic waves in an anisotropic elastic half-space, Sov. Phys. Acoust. 35 (1989) 535–538] is used to obtain an explicit expression of the secular equation for the surface wave speed, which possesses no restrictions on the form of the strain energy function. Albeit powerful, this method does not produce a unique solution and additional checks are necessary. However, a class of materials is presented for which an exact secular equation for the surface wave speed can be formulated. This class includes the well-known Mooney–Rivlin model. The main results are illustrated with several numerical examples

    A shallow-water model for hydraulically transcritical flows

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    This document describes a numerical model that was developed to study two-dimensional, reduced-gravity, shallow-water flows. When the dynamics of these flows is strongly nonlinear, the flow may become hydraulically supercritical and discontinuities in the flow field may arise. The presence of discontinuities in the flow field requires a special numerical treatment in order to maintain both accuracy and stability in the numerically-approximated solution. In this model, a shock-capturing scheme called the Essentially Non-Oscillatory (ENO) scheme is implemented. The ENO scheme is a high-order, adaptive-stencil, finite-difference, characteristic-based scheme for hyperbolic equations that has been applied widely to flows governed by the Euler equations of gas dynamics. The model described in this document was developed for geophysical applications, and therefore includes the effects of rotation (constant Coriolis parameter), forcing (time dependent and/or spatially varying), and bottom drag (linear or nonlinear). The presentation includes the mathematical formulation of the model as well as instructions on how to prepare and execute model runs.Funding was provided by the Office of Naval Research under Grant Number N00014-93-1-1369

    Managing storm water flow in the Neridup Creek catchment

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    The Department of Agriculture and Food, Western Australia (DAFWA) was commissioned by the Esperance Regional Forum to investigate opportunities for managing storm flow, erosion and sedimentation in large storm events through Neridup Creek catchment. This report details the findings of the investigation and also provides some recommendations for managing farm-scale drainage issues and catchment water flow
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