Abstract Theory suggests that tort reform could have two possible impacts on accidents.
Reforms could increase accidents as tortfeasors internalize less of the cost of externalities …

Abstract Kenneth Arrow and Karl Borch published several important articles in the early
1960s that can be viewed as the beginning of modern economic analysis of insurance …

This paper examines the variation in insurance company financial performance across
states with different legal and regulatory environments. These environments are …

This study focuses on the economic consequences of tort reform. In particular, we address
two issues. First, we test the relationship between tort reforms and claim severity for an …

The impact of a statute that is currently in effect depends on expectations about its future
constitutionality. We investigate the effect of tort reform by segmenting reforms into those that …

Prior work suggests that heterogeneous information or weak incentives for solvency could
have caused some general liability insurers to charge low ex ante prices during the early …

It is common to hear claims that tort law is undermining the ability of America to grow
economically. Tort liability imposes costs on businesses, who complain about its detrimental …

Insurance fraud, which adds an estimated $85 billion per year to the total insurance bill in
the United States, is an extremely serious problem for consumers, regulators, and insurance …

Problematic legal doctrines, like imperfect products, breed restlessness in their makers. A
conscientious product manufacturer chafes at harmful imperfection, and tinkers with …

The cost associated with an automobile liability incident in the United States has been
hypothesized to be related to different tort reform statutes, the presence of no-fault rules, and …