Camerer, Colin and Kunreuther, Howard (1993) Making Decisions About Liability and Insurance: Editors' Comments. Journal of Risk and Uncertainty, 7 (1). pp. 5-15. ISSN 0895-5646 http://resolver.caltech.edu/CaltechAUTHORS:20110218-143741480
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Two related trends have created novel challenges for managing risks in the United States. The first trend is a series of dramatic changes in liability law. Tort law has expanded to assign liability to defendants for reasons other than negligence. Recent doctrines include joint and several liability, retroactive liability, probabilistic causation, and unlimited duration of liability. Many of these legal changes have added unpredictability about future damage claims (and about further changes in the law), making it difficult for firms to assess risks and for risks to be shifted effectively from firms to insurers (Committee for Economic Development, 1989).
|Additional Information:||© 1993 Kluwer Academic Publishers.|
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|Deposited By:||Tony Diaz|
|Deposited On:||08 Mar 2011 23:58|
|Last Modified:||08 Mar 2011 23:58|
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