Reforming products liability /

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Bibliographic Details
Author / Creator:Viscusi, W. Kip
Imprint:Cambridge, Mass. : Harvard University Press, 1991.
Description:xv, 270 p. : ill. ; 25 cm.
Language:English
Subject:Products liability -- United States.
Products liability -- Economic aspects -- United States.
Products liability.
Products liability -- Economic aspects.
United States.
Format: Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/1267563
Hidden Bibliographic Details
ISBN:0674753232 (acid-free paper)
Notes:Includes bibliographical references (p. [257]-266) and index.
Table of Contents:
  • 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