Topic
Damages
About: Damages is a research topic. Over the lifetime, 9365 publications have been published within this topic receiving 89750 citations. The topic is also known as: compensation award.
Papers published on a yearly basis
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TL;DR: The authors show that Fuller and Perdue's three-way classification is not useful as a descriptive organizing principle in teaching contract remedies, since it obscures important similarities between remedies that nominally protect different "interests" and important differences among remedies that protect the same "interest."
Abstract: The 1936 article by Lon Fuller and William Perdue, "The Reliance Interest in Contract Damages," deserves its place as a classic in the history of contract theory. As a piece of substantive contracts scholarship, though, that article is several decades out of date, and (I argue here) is not even very useful as an organizing principle in teaching contract remedies. The first part of my article surveys various normative theories that have been advanced by modern scholars, to show how little any of them employ or depend on Fuller and Perdue's three-way classification between the expectation, restitution, and reliance "interests." The second part surveys the remedies case law, showing that Fuller and Perdue's classification is not even very helpful as a descriptive organizing principle: it obscures important similarities between remedies that nominally protect different "interests," and important differences among remedies that nominally protect the same "interest." I conclude that Fuller and Perdue's three-way classification -- important as it undoubtedly was in the historical development of contract theory -- is no longer a useful analytic tool, and offer some suggestions as to what might replace their classification.
29 citations
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TL;DR: In this paper, the Hungarian model is used to improve the procedural position of the leniency recipient in proceedings for cartel damages based on the Hungarian Model of Dispute Resolution (MDR).
Abstract: Although leniency programmes and damages actions, at least to a certain extent, serve the same purpose of increasing compliance with the competition rules, an increasing number of damages actions risk undermining national and EU leniency programmes, because the risk of follow-on damages actions may discourage potential leniency applicants from coming forward. To increase the successful co-existence of leniency programmes and damages actions, the law can interfere at two stages: it can prevent disclosure of leniency applications and it can decrease the risk or the amount of damages to be paid by leniency recipients. This contribution will explain the current rules on these matters and analyse a number of proposals for reform. The analysis will result in a suggestion to introduce at EU level a regime to improve the procedural position of the leniency recipient in proceedings for cartel damages based on the Hungarian model.
29 citations
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TL;DR: In nuclear power, private companies bear the costs of an accident only up to the fire-sale value of their net assets as discussed by the authors. Beyond that point, they pay nothing, and the damages from a nuclear disaster easily soar past that point.
Abstract: On March 11, 2011, a magnitude 9.0 earthquake and 38-meter tsunami destroyed Tokyo Electric's Fukushima nuclear power complex. The disaster was not a high-damage, low-probability event. It was a high-damage, high-probability event. Massive earthquakes and tsunami assault the coast every century. Tokyo Electric built its reactors as it did because it would not pay the full cost of a melt-down anyway. Given the limited liability at the heart of corporate law, it could externalize the cost of running reactors. In most industries, firms rarely risk tort damages so enormous they cannot pay them. In nuclear power, "unpayable" potential liability is routine. Privately owned companies bear the costs of an accident only up to the fire-sale value of their net assets. Beyond that point, they pay nothing -- and the damages from a nuclear disaster easily soar past that point. Government ownership could eliminate this moral hazard - but it would replace it with problems of its own. Unfortunately, the electoral dynamics in wealthy modern democracies combine to replicate nearly perfectly the moral hazard inherent in private ownership. Private firms will build reactors on fault lines. And so will governments.
29 citations
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TL;DR: In this article, the effect of encouraging private actions for breaches of competition law is studied, and it is shown that facilitating private action increases the number of cases opened and sometimes but not always makes plaintiffs more aggressive in pre-trial bargaining.
Abstract: We study the effect of encouraging private actions for breaches of competition law. We develop a model in which a plaintiff, who may have private information about whether a breach of law has been committed, decides whether to open a case against a defendant. If opened, the case may be settled out of court or may proceed to full trial. The authorities can facilitate private actions by lowering the costs of opening a case or of proceeding to a full trial, or by raising the damages to be expected in the event of success. We show that facilitating private action increases the number of cases opened and sometimes but not always makes plaintiffs more aggressive in pre-trial bargaining. The latter, if it occurs, tends to make defendants who have committed anti-trust violations more likely to settle than innocent defendants. We also show that for screening to work requires the Court to be committed to rely only on submitted evidence in the case, and not on other possibly relevant background material. We finally study how to design the rules so as to enhance the role of private litigation on antitrust enforcement and prove that it is better to increase damages that to reduce costs of initiating a suit. In particular we find large benefits from introducing a system of compensation for Defendants found non-liable, paid by unsuccessful plaintiffs.
29 citations
01 Jan 1992
TL;DR: In this paper, a set of climate impact case studies were identified and experts were selected to undertake these assessments, including research on the salt industry, agriculture, electric power supply and demand, health and nutrition, the political aspects of droughts, flood and freeze damages, and so forth.
Abstract: This study is an attempt to understand the direct and indirect interactions between climate and society in Brazil. A set of climate impact case studies were identified and experts were selected to undertake these assessments. The 14 case studies include research
on the salt industry, agriculture, electric power supply and demand, health and nutrition, the political aspects of droughts, flood and
freeze damages, and so forth. Climate-related impact case studies were not undertaken in our study for the Amazon region because
this region has received a large share of scientific and political attention both within Brazil and in the international community.
29 citations