Decentralization and mutual liability rules

Implementation Rules for Fiscal Decentralization

Relative performance of liability rules : Experimental

We compare the performance of liability rules for managing environmental disasters when third parties are harmed and cannot always be compensated. A firm can invest in safety to reduce the likelihood of accidents. The firm’s investment is unobservable to authorities. Externality and asymmetric information call for public intervention to define rules aimed at increasing prevention. We determine ...

How Costly Are Limited Liability Rules?

We quantify the cost of limited liability rules in a traditional model of investment financing under moral hazard and risk aversion. Under limited liability, we show that external debt and the granting of absolute priority to debtholders are key (but not the unique) ingredients of the optimal financing package. Removing liability limits makes possible a superior contract that punishes the entre...

Descriptive Study on "Market Share Liability" in Iranian Rules of Jurisprudence

The release of some estrogenic drugs in the sixties which produced with several therapeutic goals mostly prevention of abortion followed in similar cancer for the children born from the users. However, such cancers identified as the subsequent use of the drugs, due to a multiplicity of pharmacists and the inability of patients to identify the leading manufacturers, the law cases failed to prove...

a comparative study on borders and basis of carrier’s liability under “rotterdam rules” with “hague rules” and “hamburg rules”

on december 11, 2008, the united nations adopted the “convention on contracts for the international carriage of goods wholly or partly by sea”, more colloquially known as the “rotterdam rules” for the city which hosted the convention’s signing ceremony on september 23, 2009. rotterdam convention approved the “presumption of responsibility” as the basis of carrier’s responsibility and listed the...