Monday
July 28, 2014

Homework Help: economics

Posted by Sung on Monday, May 11, 2009 at 11:21pm.

Need Help on my final exam.
Willing to reward for help.

1. Relate the legal concept of tort to the economic concept of externalities.

2. Does the existence of a tort necessarily mean that economic inefficiency is present? How do
torts differ from other types of externalities?

3. Discuss the effects on efficient behavior of different liability rules, including comparative
negligence. Include in your discussion an analysis of the efficiency of the various rules and discuss
the differing costs of administering the rules.

5. How is the definition of a defective product related to the negligence rule? What aspects of a
strict liability rule for products are similar to contributory negligence under a negligence rule.

6. How may a legal definition of a defect create economic efficiency problems?

8. Explain the legal and economic problems of determining causation and foreseeability in tort law.
Is there a difference between the legal and economic issues involved?

10. When calculating damages for lost economic capacity does it make sense to add so called
ˇ°hedonic damagesˇ± to the total lost income as a result of the death of an individual in a tort case?

11. How are intentional torts different from unintentional torts? Why are they treated differently
under the law?

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