Product liability: A neo-Austrian based perspective

被引：0
作者：
Folmer H. [1 ]
Heijman W.J.M. [1 ]
Leen A.R. [1 ]
机构：
[1] Wageningen University, Social Sciences, Economics of Consumers and Households, 6700 EW, Wageningen
来源：
European Journal of Law and Economics | 2002年 / 13卷 / 1期
关键词：
Austrian economics; Contract law; Product liability;
D O I：
10.1023/A:1013165909163
中图分类号：
学科分类号：
摘要：
The paper is an exercise in a neo-Austrian based economic analysis of product liability. After a short historical introduction, we take two of the basic premises of Austrian economic thought and see which system of product liability results. If costs are subjective and entrepreneurship is the essence of an efficient market process, a system of caveat emptor and vendor results. For judges to assess damages, in the way others advocate judges to do, judges would need to measure costs, something that cannot be done according to Austrian economics. The paper also answers some possible criticisms from the mainstream neoclassical perspective. © 2002 Kluwer Academic Publishers.
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页码：73 / 84
页数：11
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