The Shavell, Steven, 1946- National Bureau of Economic Research. text bibliography text mau 2010 monographic Cambridge, MA National Bureau of Economic Research c2010 eng

electronic

electronic resource

remote

electronic resource

computer

computer disc

"Although the corrective tax has long been viewed by economists as a theoretically desirable remedy for the problem of harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions help to explain the observed predominance of liability over taxation, except in the area of pollution. The following factors are emphasized in the analysis: inefficiency of incentives under taxes when, as would be typical, it would be impractical for the state to incorporate into taxes all of the variables that significantly affect expected harm; efficiency of incentives under strict liability, which requires only that actual harms be measured; efficiency of incentives to exercise precautions under the negligence rule; administrative cost advantages of liability deriving from its being applied only when harm occurs; and dilution of incentives under liability when suit would be unlikely or injurers would not be able to pay fully for harms caused"--National Bureau of Economic Research web site. Steven Shavell. Title from PDF file as viewed on 9/16/2010. Includes bibliographical references. Also available in print. Mode of access: World Wide Web. System requirements: Adobe Acrobat Reader. HB1 https://hdl.loc.gov/loc.gdc/gdcebookspublic.2010656392 http://www.nber.org/papers/w16235 working paper no. 16235 2010656392 aacr DLC 100916 20250607040639.9 16461969 Converted from MARCXML to MODS version 3.8 using MARC21slim2MODS3-8_XSLT1-0.xsl (Revision 1.172 20230208)