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dc.contributor.author
Castellano, Andrea Susana
dc.contributor.author
Tohmé, Fernando Abel
dc.contributor.author
Chisari, Omar Osvaldo
dc.date.available
2020-12-05T02:31:57Z
dc.date.issued
2020-05
dc.identifier.citation
Castellano, Andrea Susana; Tohmé, Fernando Abel; Chisari, Omar Osvaldo; Product liability under ambiguity; Springer; European Journal of Law and Economics; 49; 3; 5-2020; 473-487
dc.identifier.uri
http://hdl.handle.net/11336/119924
dc.description.abstract
The introduction of new varieties of goods increases welfare under certainty and perfect competition. However, when the quality of new goods is uncertain, the need for a regulatory regime on liabilities and hazards arises. We examine the optimality of the regulatory mechanisms of quality under ambiguity (non-uniqueness of the probability distribution). We develop a model showing that product liability does not lead to optimality under ambiguity and so it constitutes an inadequate instrument for controlling the potential damages caused by innovative products. The level of precaution will be larger, equal or less than the optimal level and will decrease with the degree of optimism and will increase with the degree of pessimism. Consequently the price will not refect the actual product risk and consumers will buy either an insufcient or an excessive amount, according to the case. We present some considerations on the adequate institutional design, capturing the insights obtained in the comparison between regulatory regimes.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Springer
dc.rights
info:eu-repo/semantics/restrictedAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
AMBIGUITY
dc.subject
PRODUCT LIABILITY
dc.subject
QUALITY
dc.subject
REGULATION
dc.subject.classification
Organización Industrial
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Economía y Negocios
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CIENCIAS SOCIALES
dc.title
Product liability under ambiguity
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2020-09-25T19:07:06Z
dc.identifier.eissn
1572-9990
dc.journal.volume
49
dc.journal.number
3
dc.journal.pagination
473-487
dc.journal.pais
Alemania
dc.description.fil
Fil: Castellano, Andrea Susana. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina
dc.description.fil
Fil: Tohmé, Fernando Abel. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Matemática Bahía Blanca. Universidad Nacional del Sur. Departamento de Matemática. Instituto de Matemática Bahía Blanca; Argentina
dc.description.fil
Fil: Chisari, Omar Osvaldo. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Saavedra 15. Instituto Interdisciplinario de Economía Política de Buenos Aires. Universidad de Buenos Aires. Facultad de Ciencias Económicas. Instituto Interdisciplinario de Economía Política de Buenos Aires; Argentina. Academia Nacional de Ciencias Económicas; Argentina
dc.journal.title
European Journal of Law and Economics
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://link.springer.com/journal/10657/onlineFirst
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://link.springer.com/article/10.1007/s10657-020-09655-5
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/https://doi.org/10.1007/s10657-020-09655-5
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