Judgement Proofness under Four Different Precaution Technologies
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Publication date
2003-11
Authors
Dari Mattiaci, Guiseppe
de Geest, G.G.A.
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Document Type
Working paper
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Abstract
This study shows that the effects of judgment proofness on precaution depend on whether the injurer can reduce the probability of the accident, the magnitude of the harm, or both. Different legal solutions to the problem are examined: punitive damages, average compensation, undercompensation, accurate compensation and negligence. We find that when the injurer can only reduce the probability of the accident, negligence with average compensation is the best solution, but negligence with perfectly compensatory damages is the desirable solution if the injurer can only or also affect the magnitude of the harm.
Keywords
insolvency, judgment proof, liability, bankruptcy
Citation
Dari Mattiaci, G & de Geest, G G A 2003 'Judgement Proofness under Four Different Precaution Technologies' Discussion Paper Series / Tjalling C. Koopmans Research Institute, no. 16, vol. 03, UU USE Tjalling C. Koopmans Research Institute.