Innovation, tort law, and competition:
In this paper, we examine the link between innovative activity on the part of firms, the competitive pressure to introduce innovations and optimal damages awards. While innovative activity brings forth valuable new products for consumers, competitive pressure in the ensuing innovation race induces f...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Düsseldorf
DICE
2012
|
| Schriftenreihe: | DICE discussion paper
78 |
| Online-Zugang: | http://www.dice.hhu.de/fileadmin/redaktion/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/DICE/Discussion_Paper/078_Baumann_Heine.pdf http://hdl.handle.net/10419/67104 |
| Zusammenfassung: | In this paper, we examine the link between innovative activity on the part of firms, the competitive pressure to introduce innovations and optimal damages awards. While innovative activity brings forth valuable new products for consumers, competitive pressure in the ensuing innovation race induces firms to launch innovations too early, thereby raising the likelihood of severe product risks above the optimal failure rate. Introducing innovations too early may call for the application of punitive damages instead of mere compensation of harm caused, in order to decelerate such welfare-reducing innovation races. The optimal tort system is accordingly highly dependent not only on the expected profits and the effectiveness of time delays with respect to reducing expected harm, but also on the competitive environment in which firms operate. -- competition ; innovation ; punitive damages ; tort law |
| Format: | . - Acrobat Reader |
| ISBN: | 9783863040772 |
Internformat
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| 520 | 8 | |a In this paper, we examine the link between innovative activity on the part of firms, the competitive pressure to introduce innovations and optimal damages awards. While innovative activity brings forth valuable new products for consumers, competitive pressure in the ensuing innovation race induces firms to launch innovations too early, thereby raising the likelihood of severe product risks above the optimal failure rate. Introducing innovations too early may call for the application of punitive damages instead of mere compensation of harm caused, in order to decelerate such welfare-reducing innovation races. The optimal tort system is accordingly highly dependent not only on the expected profits and the effectiveness of time delays with respect to reducing expected harm, but also on the competitive environment in which firms operate. -- competition ; innovation ; punitive damages ; tort law | |
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| isbn | 9783863040772 |
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| spelling | Baumann, Florian Verfasser (DE-588)134087488 aut Innovation, tort law, and competition Florian Baumann ; Klaus Heine Düsseldorf DICE 2012 txt rdacontent c rdamedia cr rdacarrier DICE discussion paper 78 In this paper, we examine the link between innovative activity on the part of firms, the competitive pressure to introduce innovations and optimal damages awards. While innovative activity brings forth valuable new products for consumers, competitive pressure in the ensuing innovation race induces firms to launch innovations too early, thereby raising the likelihood of severe product risks above the optimal failure rate. Introducing innovations too early may call for the application of punitive damages instead of mere compensation of harm caused, in order to decelerate such welfare-reducing innovation races. The optimal tort system is accordingly highly dependent not only on the expected profits and the effectiveness of time delays with respect to reducing expected harm, but also on the competitive environment in which firms operate. -- competition ; innovation ; punitive damages ; tort law Online-Ausgabe Online-Ressource (PDF-Datei: 23 S., 344,12 KB) . - Acrobat Reader Heine, Klaus Verfasser (DE-588)136833241 aut Reproduktion von Baumann, Florian Innovation, tort law, and competition 2012 DICE discussion paper 78 (DE-604)BV036737837 78 http://www.dice.hhu.de/fileadmin/redaktion/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/DICE/Discussion_Paper/078_Baumann_Heine.pdf http://hdl.handle.net/10419/67104 Download aus dem Internet, Stand: 06.12.2012 |
| spellingShingle | Baumann, Florian Heine, Klaus Innovation, tort law, and competition DICE discussion paper |
| title | Innovation, tort law, and competition |
| title_auth | Innovation, tort law, and competition |
| title_exact_search | Innovation, tort law, and competition |
| title_full | Innovation, tort law, and competition Florian Baumann ; Klaus Heine |
| title_fullStr | Innovation, tort law, and competition Florian Baumann ; Klaus Heine |
| title_full_unstemmed | Innovation, tort law, and competition Florian Baumann ; Klaus Heine |
| title_short | Innovation, tort law, and competition |
| title_sort | innovation tort law and competition |
| url | http://www.dice.hhu.de/fileadmin/redaktion/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/DICE/Discussion_Paper/078_Baumann_Heine.pdf http://hdl.handle.net/10419/67104 |
| volume_link | (DE-604)BV036737837 |
| work_keys_str_mv | AT baumannflorian innovationtortlawandcompetition AT heineklaus innovationtortlawandcompetition |