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Getting Incentives Right : Improving Torts, Contracts, and Restitution / Ariel Porat, Robert D. Cooter.

By: Contributor(s): Material type: TextTextPublisher: Princeton, NJ : Princeton University Press, [2014]Copyright date: ©2014Edition: Course BookDescription: 1 online resource (240 p.) : 11 line illus. 4 tablesContent type:
Media type:
Carrier type:
ISBN:
  • 9780691151595
  • 9781400850396
Subject(s): DDC classification:
  • 346.7302 23
LOC classification:
  • KF1250
Other classification:
  • online - DeGruyter
Online resources: Available additional physical forms:
  • Issued also in print.
Contents:
Frontmatter -- Contents -- Acknowledgments -- Introduction -- I. Torts and Misalignments -- II. Contracts and Victims' Incentives -- III. Restitution and Positive Externalities -- Conclusion -- Table of Cases -- Table of Books and Articles -- Subject Index
Summary: Lawyers, judges, and scholars have long debated whether incentives in tort, contract, and restitution law effectively promote the welfare of society. If these incentives were ideal, tort law would reduce the cost and frequency of accidents, contract law would lubricate transactions, and restitution law would encourage people to benefit others. Unfortunately, the incentives in these laws lead to too many injuries, too little contractual cooperation, and too few unrequested benefits. Getting Incentives Right explains how law might better serve the social good.In tort law, Robert Cooter and Ariel Porat propose that all foreseeable risks should be included when setting standards of care and awarding damages. Failure to do so causes accidents that better legal incentives would avoid. In contract law, they show that making a promise often causes the person who receives it to change behavior and undermine the cooperation between the parties. They recommend several solutions, including a novel contract called "anti-insurance." In restitution law, people who convey unrequested benefits to others are seldom entitled to compensation. Restitution law should compensate them more than it currently does, so that they will provide more unrequested benefits. In these three areas of law, Getting Incentives Right demonstrates that better law can promote the well-being of people by providing better incentives for the private regulation of conduct.

Frontmatter -- Contents -- Acknowledgments -- Introduction -- I. Torts and Misalignments -- II. Contracts and Victims' Incentives -- III. Restitution and Positive Externalities -- Conclusion -- Table of Cases -- Table of Books and Articles -- Subject Index

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Lawyers, judges, and scholars have long debated whether incentives in tort, contract, and restitution law effectively promote the welfare of society. If these incentives were ideal, tort law would reduce the cost and frequency of accidents, contract law would lubricate transactions, and restitution law would encourage people to benefit others. Unfortunately, the incentives in these laws lead to too many injuries, too little contractual cooperation, and too few unrequested benefits. Getting Incentives Right explains how law might better serve the social good.In tort law, Robert Cooter and Ariel Porat propose that all foreseeable risks should be included when setting standards of care and awarding damages. Failure to do so causes accidents that better legal incentives would avoid. In contract law, they show that making a promise often causes the person who receives it to change behavior and undermine the cooperation between the parties. They recommend several solutions, including a novel contract called "anti-insurance." In restitution law, people who convey unrequested benefits to others are seldom entitled to compensation. Restitution law should compensate them more than it currently does, so that they will provide more unrequested benefits. In these three areas of law, Getting Incentives Right demonstrates that better law can promote the well-being of people by providing better incentives for the private regulation of conduct.

Issued also in print.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)