2,988 research outputs found
Torts and the Protection of "Legally Recognized" Interests
The law of torts plays an important role in completing the legal property rights system by defining the extent to which property is protected from harm. It does this by defining the kinds of interests that will be recognized and protected from harm by the courts, the duty of care owed these recognized interests by others, and the manner in which they will be protected through monetary compensation, restitution, or injunction. Together, these three elements of torts define a right in the “bundle of rights” that constitute property. In this paper, we develop a systematic approach to formalizing the nature of the property rights protected by tort law. We use this approach to reexamine the literature on compensation for nonpecuniary damages. This reexamination demonstrates how recognizing tort’s role in defining property rights and having a way of formalizing these rights can provide deeper insight into old questions torts scholarship.torts, property rights, liability, compensation, damages, insurance
A Neglected Interdependency in Liability Theory
The standard economic model of bilateral precaution concludes that (in the absence of uncertainty, misperception, or error) all negligence-based liability rules induce socially optimal behavior by both injurers and victims. This paper generalizes the standard model to consider situations in which one party’s precaution affects not only expected accident loss, but also directly affects the other party’s effort—or cost—of taking precaution. If the injurer’s care affects the victim’s precaution costs (but not vice versa), most of the standard results continue to hold (except for strict liability with a defense of contributory negligence). If the victim’s precaution affects the injurer’s costs of care (but not vice versa), only strict liability with a defense of contributory negligence leads to the social optimum, while the other negligence-based rules lead to suboptimal outcomes. In the general case (where each party’s costs depend on both parties’ levels of precaution), none of the standard liability rules induce socially optimal behavior in both parties. The paper’s other main result concerns the possibility of self-interested, negligent behavior in equilibrium. Under negligence with a defense of contributory negligence, the only equilibrium is in the mixed strategies of both injurer and victim. This involves the parties choosing (with strictly positive probability) to behave negligently, and gives rise to the possibility of successful litigation in equilibrium, even though there is no uncertainty, misperception, or error. The paper concludes by considering the implications of these results for the design of liability rules.law and economics, and tort law
Economic Uncertainties in Valuing Reductions in Children's Environmental Health Risks
The recognition that environmental hazards can affect children differently and more severely than adults has provoked growing concern in industrialized nations about the impact of environmental pollution on children’s health. In this paper, commissioned by the OECD, we are charged with examining “economic uncertainties” associated with valuing the benefits of environmental policies that reduce risk to children’s health. We examine two sources of uncertainty in benefits estimation: forecasting uncertainty and modeling uncertainty. We explore how these sources of uncertainty affect the use of standard economic and non-economic approaches to the valuation of health benefits. These include willingness-to-pay measures, cost-of-illness and human-capital measures, and quality-adjusted life years (QALYs) and related non-economic measures.willingness to pay, QALY, children, social welfare function, health valuation, environmental health, household behavior
Prioritizing Opportunities to Reduce the Risk of Foodborne Illness: A Conceptual Framework
Determining the best use of food safety resources is a difficult task faced by public policymakers, regulatory agencies, state and local food safety and health agencies, as well as private firms. The Food Safety Research Consortium (FSRC) has developed a conceptual framework for priority setting and resource allocation for food safety that takes full account of the food system’s complexity and available data but is simple enough to be workable and of practical value to decisionmakers. The conceptual framework addresses the question of how societal resources, both public and private, can be used most effectively to reduce the public health burden of foodborne illness by quantitatively ranking risks and considering the availability, effectiveness, and cost of interventions to address these risks. We identify two types of priority-setting decisions: Purpose 1 priority setting that guides risk-based allocation of food safety resources, primarily by government food safety agencies, across a wide range of opportunities to reduce the public health impact of foodborne illness; and Purpose 2 priority setting that guides the choice of risk management actions and strategies with respect to particular hazards and commodities. It is essential that such a framework be grounded in a systems approach, multi-disciplinary in approach and integration of data, practical, flexible, and dynamic by including ongoing evaluation and continuous updating of risk rankings and other elements. The conceptual framework is a synthesis of ideas and information generated in connection with and during the three FSRC workshops convened under a project funded by the Cooperative State Research, Education, and Extension Service of USDA. Workshop materials are available on the project website: http://www.card.iastate.edu/food_safety/.
Multilateral Trade Agreements and Market-Based Environmental Policies
We review the legal provisions of the WTO regime that have important implications for national, market-based environmental policies. We evaluate those provisions for their effects on a member country’s ability and incentives to design economically efficient environmental policies. International trade institutions do not recognize the polluter pays principle, posing some challenges for unilateral policies addressing cross-border pollutants and leakage. Nor do they recognize the economic equivalence of emission tax and permit regimes, leading to different potential constraints on policy design and leaving some environmental policies open to influence by protectionist motives. As many legality issues have yet to be disputed and resolved, opportunities exist to help the WTO and environmental institutions evolve in ways to enable and encourage good policymaking.trade, environment, WTO, GATT, market-based policies
Ranking the Risks: The 10 Pathogen-Food Combinations With the Greatest Burden on Public Health
Examines food-borne pathogens with the highest disease burdens and the top ten foods most commonly contaminated by them, such as salmonella in poultry, toxoplasma in pork, and listeria in deli meats. Makes policy recommendations for improving prevention
Poverty and Employment in Timber-Dependent Counties
One of the most controversial aspects of federal and state policies aimed at protecting old-growth ecosystems has been the potential impact of job losses on local economies. A fundamental question for historically timber-dependent communities is whether these policies will result in local economic stagnation and enduring pockets of poverty. In this paper, we examine the long-run impact of changes in timber-related employment on other types of employment and participation in major federal poverty programs. We use monthly, multi-county time series data to estimate a vector autoregressive model of the experience of northern California counties during the 1980s and 1990s. We find that employment base multiplier effects of timber employment on other types of employment in each county are small, and state economic conditions rather than local employment conditions are the principal driver behind local poverty.
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