Journal ArticleDOI
The Judgment Proof Problem
TLDR
In this article, the authors consider the possibility that individuals who cause personal injury or property damage may be found to be "judgment proof", that is, unable to pay fully the amount for which they have been found legally liable.About:
This article is published in International Review of Law and Economics.The article was published on 1986-06-01. It has received 445 citations till now. The article focuses on the topics: Liability insurance & Strict liability.read more
Citations
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The Goals and Promise of the Sarbanes-Oxley Act
TL;DR: The Sarbanes-Oxley Act of 2002 as mentioned in this paper was the first attempt to fix auditing of U.S. public companies, consistent with its full, official name: the public company accounting reform and investor protection act of 2002.
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Different Approaches to Corporate Reporting Regulation: How Jurisdictions Differ and Why
TL;DR: The authors discusses differences in countries' approaches to reporting regulation and explores the reasons why they exist in the first place as well as why they are likely to persist, concluding that reporting practices are unlikely to converge globally, despite efforts to harmonize reporting standards.
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Large risks, limited liability, and dynamic moral hazard
TL;DR: In this article, the authors study a continuous-time principal-agent model in which a risk-neutral agent with limited liability must exert unobservable effort to reduce the likelihood of large but relatively infrequent losses.
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Different approaches to corporate reporting regulation: How jurisdictions differ and why
TL;DR: The authors discusses differences in countries' approaches to reporting regulation and explores the reasons why they exist in the first place as well as why they are likely to persist, concluding that reporting practices are unlikely to converge globally, despite efforts to harmonise reporting standards.
References
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Book
Optimal Statistical Decisions
TL;DR: In this article, the authors present a survey of probability theory in the context of sample spaces and decision problems, including the following: 1.1 Experiments and Sample Spaces, and Probability 2.2.3 Random Variables, Random Vectors and Distributions Functions.
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On Moral Hazard and Insurance
TL;DR: This paper focuses on the part of moral hazard when care is not observed by the insurer and the role of the insurer in this situation.
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Economic Analysis of Law
TL;DR: The use of economic analysis in the book as mentioned in this paper is hardly casual or undemanding in the sense that it requires the efforts of a committee, and the committee would need economists as well as legal scholars from diverse interests among its membership.
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Optimal insurance policy indemnity schedules
TL;DR: In this article, the authors focus on two commonly observed insurance policy provisions: upper limits on coverage and deductibles, and they show that absent moral hazard, if the administrative cost structure has fixed costs and scale economies, deductibles are not optimal.
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On Liability and Insurance
TL;DR: In this paper, the authors examined how liability rules and insurance affect incentives to reduce accident risks and the allocation of such risks and concluded that both of the forms of liability create incentives to take care.