Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/86625 
Year of Publication: 
2006
Series/Report no.: 
Tinbergen Institute Discussion Paper No. 06-070/1
Publisher: 
Tinbergen Institute, Amsterdam and Rotterdam
Abstract: 
Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability cap can improve caretaking.
Subjects: 
insolvency
judgment proof
liability
bankruptcy
liability cap
JEL: 
K13
K32
L59
Document Type: 
Working Paper

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