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tort law - Coggle Diagram
tort law
social functions
compensate victims
deter unreasonably risky behaviour
shavell
optimal
minimizes overall costs of accidents
liability schemes
strict liability
compensable harm
causation
less administrative costs
higher number of litigated cases
negligence
compensable harm
causation
Palsgraf v. Long Island Railroad Co. (1928)
proximity
foreseeability
negligence
hand formula
no due care
determination
relevant costs and benefits
investments in precaution < risk
economic understanding
burden < expected loss (probability x magnitude of loss)
marginal values understanding
care
unilateral care cases
bilateral care cases