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Accidental death and the rule of joint and several liability

Author(s): Carvell, Daniel; Currie, Janet M.; MacLeod, W. Bentley

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DC FieldValueLanguage
dc.contributor.authorCarvell, Daniel-
dc.contributor.authorCurrie, Janet M.-
dc.contributor.authorMacLeod, W. Bentley-
dc.date.accessioned2020-01-24T20:11:57Z-
dc.date.available2020-01-24T20:11:57Z-
dc.date.issued2012-03en_US
dc.identifier.citationCarvell, Daniel, Currie, Janet M., MacLeod, W. Bentley. (2012). Accidental death and the rule of joint and several liability. The RAND Journal of Economics, 43 (1), 51 - 77. doi:10.1111/j.1756-2171.2012.00158.xen_US
dc.identifier.issn0741-6261-
dc.identifier.urihttp://arks.princeton.edu/ark:/88435/pr1g48c-
dc.description.abstractMost U.S. states have enacted JSL reform, the move from a regime of joint and several liability (JSL) that allows plaintiffs to claim full recovery from any one of multiple defendants to one where defendants are held liable only for the harm they cause. Contrary to previous theoretical work, we show that JSL reform can increase precaution by judgment proof agent by giving “deep pockets” an incentive to reduce their own liability by bringing judgment-proof agents into court. This result can help explain our empirical findings showing that JSL reform reduces death rates (and hence increase precaution) for many types of accidents. Together, these results highlight the role that litigation costs and judgment-proof agents play in the functioning of the American tort system.en_US
dc.format.extent51 - 77en_US
dc.language.isoen_USen_US
dc.relation.ispartofThe RAND Journal of Economicsen_US
dc.rightsAuthor's manuscripten_US
dc.titleAccidental death and the rule of joint and several liabilityen_US
dc.typeJournal Articleen_US
dc.identifier.doidoi:10.1111/j.1756-2171.2012.00158.x-
dc.date.eissued2012-03-28en_US
pu.type.symplectichttp://www.symplectic.co.uk/publications/atom-terms/1.0/journal-articleen_US

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