The nonpecuniary costs of accidents: pain-and-suffering damages in tort law

Article Abstract:

The tort system should not be overhauled to limit nonpecuniary damages despite arguments that consumers do not value such protections. The general lack of a market for pain-and-suffering insurance does not, as some tort reformers suggest, indicate a lack of consumer demand for such insurance but is evidence of market failure. Study of nonmarket evidence reveals that consumers do actually demand protection for nonpecuniary damages but the insurance market fails to provide mechanisms for compensating such harm. The tort system remains the best mechanism for compensating for pain and suffering.

Analysis, Liability insurance

---

Taking behavioralism seriously: some evidence of market manipulation

Article Abstract:

New research on the capacity of manufacturers to manipulate markets and consumer behavior confirmed the speculation of some early products liability scholars that product warnings are not enough to offset consumer information problems. Empirical data from a study of cigarette industry marketing suggested that the many factors affecting individual decision making make it difficult for consumers to make rational choices. This finding strengthens the case for replacing products liability with enterprise liability.

United States, Research, Marketing, Product liability, Markets (Economics), Consumer behavior, Tobacco industry, Products liability, Warning labels

---

Latent harms and risk-based damages

Article Abstract:

Courts should direct liable defendants to provide insurance policies as compensatory damages for plaintiffs' latent harm from exposure to toxic substances. This approach satisfies tort law's aims of deterrence and compensation. This approach is fair because the award continues throughout the time the plaintiff suffers from the harm, regardless of when symptoms may occur.

Insurance policies

Similar abstracts:

• Abstracts: The I-way to business growth. Videoconferencing and telemarketing with your customers. Windows
• Abstracts: Arbitrator considerations in modifying discharge decisions in the public sector. The reshaping of nonrenewal and termination practices regarding teacher contracts: a Texas focus
• Abstracts: Merit moves on. Merit pay and grading at the BBC. Merit pay in education
• Abstracts: The political roots of the judicial dilemma. Tribute to the Honorable Patricia M. Wald. Comment: rulemaking ossification - a modest proposal
• Abstracts: Economic aspects of payment card systems and antitrust policy toward joint ventures. The antitrust economics of credit card networks: reply to Evans and Schmalensee comment

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.