1,181 research outputs found

    Tort Reform and Accidental Deaths

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    Theory suggests that tort reform could have either of two impacts on accidents. First, reforms could increase accidents as tortfeasors internalize less of the costs of externalities, and thus, have less incentive to reduce the risk of accidents. Second, tort reforms could decrease accidents as lower expected liability costs result in lower prices, enabling consumers to buy more risk-reducing products such as medicines, safety equipment, and medical services. We test which effect dominates by examining the effect of tort reforms on non-motor vehicle accidental death rates, using panel data techniques. We find that caps on noneconomic damages, caps on punitive damages, a higher evidence standard for punitive damages, product liability reform, and prejudgment interest reform lead to fewer accidental deaths, while reforms to the collateral source rule lead to increased deaths. Overall, the tort reforms in the states between 1981-2000 have led to an estimated 14,222 fewer accidental deaths.

    Henry G. Manne, Network Entrepreneur

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    Growing a Legal System in the Post-Communist Economies

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    Henry G. Manne, Network Entrepreneur

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    On the Cosmic Evolution of Fe/Mg in QSO Absorption Line Systems

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    We investigate the variation of the ratio of the equivalent widths of the FeIIλ\lambda2600 line to the MgIIλλ\lambda\lambda2796,2803 doublet as a function of redshift in a large sample of absorption lines drawn from the JHU-SDSS Absorption Line Catalog. We find that despite large scatter, the observed ratio shows a trend where the equivalent width ratio RWFeII/WMgII\mathcal{R}\equiv W_{\rm FeII}/W_{\rm MgII} decreases monotonically with increasing redshift zz over the range 0.55z1.900.55 \le z \le 1.90. Selecting the subset of absorbers where the signal-to-noise ratio of the MgII equivalent width WMgIIW_{\rm MgII} is \ge3 and modeling the equivalent width ratio distribution as a gaussian, we find that the mean of the gaussian distribution varies as R(0.045±0.005)z\mathcal{R}\propto (-0.045\pm0.005)z. We discuss various possible reasons for the trend. A monotonic trend in the Fe/Mg abundance ratio is predicted by a simple model where the abundances of Mg and Fe in the absorbing clouds are assumed to be the result of supernova ejecta and where the cosmic evolution in the SNIa and core-collapse supernova rates is related to the cosmic star-formation rate. If the trend in R\mathcal{R} reflects the evolution in the abundances, then it is consistent with the predictions of the simple model.Comment: 10 pages, 4 figures, final version published in MNRA

    Adversarial Decision Making

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    An Empirical Study of Public Defender Effectiveness: Self-Selection by the "Marginally Indigent"

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    Abstract: An econometric study of all felony cases filed in Denver, Colorado, in 2002, shows that public defenders achieved poorer outcomes than their privately retained counterparts, measured by the actual sentences defendants received. But this study suggests that the traditional explanation for this difference—under-funding resulting in overburdened public defenders—may not tell the whole story. The authors discovered a large segment of what they call “marginally indigent” defendants, who appear capable of hiring private counsel if the charges against them are sufficiently serious. When the sentence data was controlled for the seriousness of the charges, however, public defenders still performed more poorly than private counsel. These results suggest that at least one explanation for poor public defender outcomes may be that public defender clients, by self selection, tend to have less defensible cases. If marginally indigent defendants can find the money to hire private counsel when the charges are sufficiently serious, perhaps they can also find the money when they are innocent, or think they have a strong case

    Supreme Court Amicus Brief Regarding Wyeth v. Diana Levine

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    Prominent in arguments opposing preemption of state tort law liability for alleged inadequacies in prescription drug labeling is the argument that such liability can complement FDA regulation by improving on a regulatory scheme that fails to provide adequate deterrence against the marketing of unsafe or inadequately labeled drugs. The premise of this argument is faulty. Fundamental principles of economics and numerous studies of FDA drug regulation reveal that FDA in fact errs on the side of overregulation of prescription drugs. Product liability litigation focused solely on one side of the prescription drug public health equation leads to further distortions of the drug approval and labeling process and exacerbates FDA's inherent overly cautious approach. Preemption of state tort law where it conflicts with FDA requirements will minimize these distortions and thereby maximize public health.Health and Safety, Other Topics
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