Recently added articles from Foundations and Trends in Microeconomics:
The law and economics of public health.(Brief article)
Nov 01, 2007; ... Abstract The fundamental question addressed by this paper is whether or not and the extent to which imposing tort liability on potential injurers improves the public's health. Conceptually, imposing the threat of litigation on potential injurers gives them an incentive to ...
1 Introduction.(The Law and Economics of Public Health)
Nov 01, 2007; ... The allocation of most goods and services in market-oriented economies is left to market forces. For some goods and services, however, there is a collective decision that some form of government intervention in resource allocation is appropriate. There are other reasons for government ...
2 Government intervention in markets: alternative approaches.(The Law and Economics of Public Health)
Nov 01, 2007; ... 2.1 Tort Law in an Economic Framework In contrast to criminal law, which is enforced by public agencies, civil law relies on enforcement by private parties under rules promulgated by the public sector. One branch of the civil law is tort law. A tort occurs when someone ...
3 Motor vehicle accidents, insurance, and tort liability.(The Law and Economics of Public Health)
Nov 01, 2007; ... 3.1 Context Injury from motor vehicle accidents is the leading cause of death in the United States among persons aged I to 34 (Quinlan et al., 2005). Overall, in 2005, 37,594 persons in the United States died from motor vehicle crashes and a far greater number were injured ...
4 Dram shop and social host liability.(The Law and Economics of Public Health)
Nov 01, 2007; ... 4.1 Rationale A substantial share of motor vehicle accidents are attributable to driving under the influence of alcohol (Levitt and Porter, 2001; Shults et al., 2001; Room et al., 2005; Quinlan et al., 2005). In 2005, an estimated 40 percent of the 39,000 reported fatal motor ...
5 Medical malpractice.(The Law and Economics of Public Health)
Nov 01, 2007; ... 5.1 Background and Context Medical malpractice litigation in the United States, in the form it exists today, was in place by the mid 19th century (DeVille, 1990; Olsen, 1996). On the other hand, the development of malpractice insurance as a distinct type of insurance did not ...
6 Tobacco litigation.(The Law and Economics of Public Health)
Nov 01, 2007; ... 6.1 Rationale for Regulation of Tobacco Products The economic rationale for tobacco litigation is threefold. The fist relates to consumer misperceptions of the harms of smoking. If tobacco manufacturers have misrepresented the harms from consuming their product, and persons ...
7 Litigation involving pharmaceutical, medical device, and vaccine manufacturers.(The Law and Economics of Public Health)
Nov 01, 2007; ... 7.1 Rationale Except for over-the-counter drugs, which are not part of this review, and vaccines, which are often offered in settings with only general medical oversight, use of pharmaceutical, medical device, and some vaccine products is conditional on having an authorization ...
8 Workers' compensation.(The Law and Economics of Public Health)
Nov 01, 2007; ... 8.1 Rationale Accidents and illnesses associated with work are common, and were especially common when attention was initially drawn to this issue in the 19th century (see, e.g., Witt, 2001). However, to the extent that workers are paid a compensating wage differential that ...
9 The experiences compared.(The Law and Economics of Public Health)
Nov 01, 2007; ... 9.1 Does Tort Liability Improve the Public's Health? The answer to the question "Does Tort Liability Improve the Public's Health" is "sometimes, it does and sometimes it does not." Of the applications included in this paper, the clearest evidence on deterrence is for dram shop ...
Acknowledgments.(The Law and Economics of Public Health)(Brief article)
Nov 01, 2007; ... This research was supported in part by an Investigator Award from the Robert Wood Johnson Foundation entitled "Medical Malpractice in Crisis." This paper's section on medical malpractice draws from our book, Medical Malpractice, MIT Press 2008. Our book goes into issues mentioned briefly ...
References.(The Law and Economics of Public Health)
Nov 01, 2007; ... Abraham, K. S. (1986), Distributing Risk: Insurance, Legal Theory, And Public Policy. New Haven: Yale University Press. Abraham, K. S. (2001), 'The rise and fall of commercial liability insurance'. Virginia Law Review 87, 85-109. Abraham, K. S. (2002), 'The insurance ...
The economics of eminent domain: private property, public use, and just compensation.
Oct 01, 2007; ... Abstract The eminent domain clause of the U.S. Constitution concerns the limits of the government's right to take private property for public use. The economic literature on this issue has examined (1) the proper scope of this power as embodied by the "public use" requirement, ...
1 Introduction.(The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation)
Oct 01, 2007; ... The Fifth Amendment of the U.S. Constitution says that the government shall not take private property for public use without paying just compensation. (1) This provision, referred to as the eminent domain, or takings, clause, has generated an enormous amount of case law and scholarly ...
2 An overview of the case law.(The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation)
Oct 01, 2007; ... 2.1 Physical Acquisitions As noted above, physical acquisitions of land universally require compensation. (1) The question then becomes, what is the proper amount of compensation? The Constitution requires just compensation, which the courts have interpreted to be the fair ...
3 The public use requirement and land assembly.(The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation)
Oct 01, 2007; ... On its face, the public use requirement would seem to limit the use of eminent domain to government provision of public goods like highways or parks. This interpretation has appeal both in terms of the plain meaning of the phrase, and the well-accepted role of the government in providing ...
4 Just compensation.(The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation)
Oct 01, 2007; ... The second requirement for the use of eminent domain is that the government must pay "just compensation" to owners whose land is taken. As noted, courts have interpreted this to mean fair market value, but there is good reason to believe that this measure is systematically less than the ...
5 Land use incentives and the compensation question.(The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation)
Oct 01, 2007; ... To this point, we have focused on economic theories of the scope of eminent domain. The primary contribution of more recent economic scholarship, however, has been to examine the incentives of the compensation rule on the land use decisions of property owners. The seminal article in this ...
6 Conclusion.(The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation)
Oct 01, 2007; ... The eminent domain clause of the Fifth Amendment is ultimately about the limits of government intervention in the land market. The case law and scholarly literature on this subject are vast, touching on many issues. Economic theory, by focusing primarily on efficiency, can shed much light ...
Appendix.(The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation)
Oct 01, 2007; ... This appendix proves that when landowners are risk averse and can also invest in their land, the optimal (second best) compensation rule involves partial compensation. To illustrate, let the compensation rule takes the form C = [alpha]V(x), where 0 [less than or equal to] [alpha] [less ...