Economics, Econometrics and Finance
3 years ago

New study shows strict liability rule can optimize social outcomes.

Asian Journal of Law and Economics
Vicarious Liability Under a Strict Liability Rule
Se–Hak Chun, Jeong‐Yoo Kim

Paper Summary

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The article explores how strict liability can lead to the best outcome in a boss-employee relationship. It builds on previous research and looks at how courts handle who pays for damages in a contract. The study shows that strict liability can work well in these situations, even when based on negligence.