Cover: Reforming Products Liability in HARDCOVER

Reforming Products Liability

Product Details


$94.00 • £81.95 • €85.95

ISBN 9780674753235

Publication Date: 09/01/1991


287 pages

6-1/8 x 9-1/4 inches



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  • Preface
  • 1. Diagnosing the Liability Crisis
    • Perspectives on Liability Reform
    • Recent Trends in Products Liability
    • Proposals for Reform
  • 2. The Dimensions of the Liability Crisis
    • Accident Rates Decline, But Litigation Soars
    • The Surge in Asbestos Litigation
    • Insurance Industry Trends
    • Roots of the Insurance Crisis, 1980–1984
    • Other Economic Effects of Products Liability
    • The Design Defect Doctrine and Hazard Warnings
  • 3. The Litigation Process
    • The Overall Structure of Products Liability Litigation
    • Court Verdicts
    • Claims Settled Out of Court
    • Cases That Are Dropped
    • Using Economic Models to Assess Reform Proposals
  • 4. The Design Defect Test
    • A Case Study of Risk-Utility Tradeoffs
    • Risk–Utility Analysis
    • The Producer as Insurer
    • Alternative Risk–Utility Measures
    • On the Threshold of Marketability
    • Who Decides?
    • Proposals for Restructuring the Product Defect Test
  • 5. The Explosive Mathematics of Damages
    • The Insurance Value and the Deterrence Value of Damages
    • Inflation and the Increase in Verdict Awards
    • Noneconomic Damages
    • Has Voodoo Economics Come to the Courts?
    • Applying the Value of Life: The Ford Pinto Case
    • Proposals for Setting Damages
  • 6. Regulation of Product Safety
    • The Adequacy of Incentives
    • Regulatory Violations and Products Liability Litigation
    • Restructuring the Institutional Interactions
  • 7. Hazard Warnings
    • The Objectives of Hazard Warnings
    • Assessing the Quality of Warnings
    • Warnings and the Risk–Utility Test
    • Regulatory Compliance
    • Toward a National Warnings Policy
  • 8. Environmental and Mass Toxic Torts
    • The Market Paradigm and Why It Fails
    • Products Liability—an Inadequate Remedy
    • Agent Orange and the Economic Stakes of Mass Toxic Torts
    • Compensation Funds
    • Strategies for Mass Toxic Torts
  • 9. Workers’ Compensation
    • Lessons from the Workers’ Compensation Experience
    • Job-Related Products Liability Claims and Workers’ Compensation
  • 10. Will Products Liability Reform Matter?
    • Insurance Availability
    • Products Liability Definitions
    • State-of-the-Art Defenses
    • Statutes of Limitation
    • Collateral Source Rules and Damage Rules
    • Effects on Premiums
    • Conclusion
  • 11. A Strategy for Principled Products Liability Reform
  • Appendix A: Products Liability Costs in Different Industries
  • Appendix B: The Litigation of Job-Related Claims
  • Notes
  • Bibliography
  • Index

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