Economics, Econometrics and Finance
4 years ago

Punitive damages redefined to balance punishment and efficiency for reckless actions.

RePEc: Research Papers in Economics
Integrating Punishment and Efficiency Concerns in Punitive Damages for Reckless Disregard of Risks to Others
Peter Dia­mond

Paper Summary

Punitive damages are meant to deter and punish reckless behavior. This study looks at how punitive damages can balance economic efficiency and the need for retribution. The researchers found that in cases of reckless disregard, punitive damages can have a significant impact.

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