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.
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Posted Content•
TL;DR: This article examined the consequences of various attitudes towards climate damages through a family of stochastic optimal control models (RESPONSE): cost-efficiency for a given temperature ceiling; cost-benefit analysis with a "pure preference for current climate regime" and full costbenefit analysis.
Abstract: This paper examines the consequences of various attitudes towards climate damages through a family of stochastic optimal control models (RESPONSE): cost-efficiency for a given temperature ceiling; cost-benefit analysis with a "pure preference for current climate regime" and full cost-benefit analysis. The choice of a given proxy of climate change risks is actually more than a technical option. It is essentially motivated by the degree of distrust regarding the legitimacy of an assessment of climate damages and the possibility of providing in due time reliable and non controversial estimates. Our results demonstrate that a) for early decades abatement, the difference between various decision-making frameworks appears to matter less than the difference between stochastic and non stochastic approach given the cascade of uncertainty from emissions to damages; b) in a stochastic approach, the possibility of non-catastrophic singularities in the damage function is sufficient to significantly increase earlier optimal abatements; c) a window of opportunity for action exists up to 2040: abatements further delayed may induce significant regret in case of bad news about climate response or singularities in damages.
102 citations
TL;DR: In this paper, potential injurers are subject to a negligence standard and differ in cost of taking care; in the event of accident, the injurer's degree of care is private information in litigation that follows.
102 citations
Posted Content•
TL;DR: In this paper, the authors study alternative contract damage measures in the presence of specific investments that generate a direct benefit to the investor's trading partner (referred to as "cooperative investments").
Abstract: This paper studies alternative contract damage measures in the presence of specific investments that generate a direct benefit to the investor's trading partner (referred to as "cooperative investments"). We find that, both with and without the possibility of ex post renegotiation, (i) the standard rules of remedy for breach of contracts such as expectation damages perform poorly in the presence of cooperative investments, (ii) the privately stipulated damages can achieve a better, albeit inefficient, outcome, and (iii) the reliance damages rule performs the best, achieving the fully efficient outcome in the presence of ex post renegotiation. These rankings stand in stark contrast to those found in the existing literature but explain such practices as termination for convenience, investment subsidies, and cost-based reimbursement, often employed in government contracts.
101 citations
Journal Article•
TL;DR: In Thake v Maurice, a British court ruled that a surgeon was liable for failing to warn a couple of the possibility of returned fertility after a vasectomy, it was held that the birth of a healthy baby was not always a blessing and damages could be awarded for an unwanted birth.
100 citations
TL;DR: In this article, the efficacy of various types of environmental regulations when they are applied locally to pollutants, such as greenhouse gases, whose damages extend beyond the jurisprudence, is investigated.
Abstract: This article considers the efficacy of various types of environmental regulations when they are applied locally to pollutants, such as greenhouse gases, whose damages extend beyond the juri...
100 citations