Product liability entering the twenty-first century : the U.S. perspective / Michael J. Moore, W. Kip Viscusi.

Format:

Book

Author/Creator:

Moore, Michael J., 1953-

Contributor:

Viscusi, W. Kip.

Language:

English

Subjects (All):

Products liability--United States--History.

Products liability.

Products liability--Economic aspects.

Physical Description:

1 online resource (53 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : AEI-Brookings Joint Center for Regulatory Studies, 2001.

Language Note:

English

Summary:

A Brookings Institution Press and American Enterprise Institute publication Are liability "crises" an inevitable part of the modern industrial landscape? Does the inherent nature of the insurance industry promote recurring liability crises? What have been the effects of the liability reforms of the 1990s? Should lawyers be given de facto regulatory authority? This report provides perspective on these and other key issues concerning the law and economics of products liability. The authors begins with a brief description of the evolution of products liability doctrine in the U.S., up to the point of the liability crisis of the late 1980s. They discuss the economic implications of product risk for both consumers and producers, offer economic hypothesis on the implications of the increased scope of liability and subsequent reforms, and provide an update of trends in litigation and liability law. The book ends with a discussion of pending legislation and prospects for further improvements. Moore and Viscusi make the point that effective liability policy calls for a balancing of the incentives for improved public safety on one hand, and the benefits of new and existing products on the other.

Contents:

Brief history of products liability

The product liability crisis

Aftermath, 1988-89

Economic model

Evidence on the consequences of product liability risks

Evidence on the effects of product liability reforms

Policy implications of product liability reforms

Problems and prospects of mass toxic torts.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references (p. 41-44).

ISBN:

9780815798798

0815798792

OCLC:

53482642