Joint Tortfeasors

Authors

Lewis A. Kornhauser, New York University School of LawFollow
Richard L. Revesz, New York University School of LawFollow

Files

Description

This chapter compares the properties of joint and several liability with those of non-joint liability. It considers three criteria: deterrence, settlement inducing properties and fairness. The analysis is performed for both full and limited solvency. The central conclusion is that neither rule dominates the other. With respect to deterrence, the relative desirability of the two rules depends on the levels of solvency of the defendants. In contrast, with respect to settlements and fairness, the comparison turns on the correlation of the plaintiff’s probabilities of success against the defendants. JEL classification: K1, K2, K4 Keywords: Joint and Several Liability, Settlement, Joint Tortfeasors, Hazardous Waste Regulation

Source Publication

Encyclopedia of Law and Economics

Source Editors/Authors

Boudewijn Bouckaert, Gerrit de Geest

Publication Date

2000

Volume Number

II: Civil Law and Economics

Recommended Citation

Kornhauser, Lewis A. and Revesz, Richard L., "Joint Tortfeasors" (2000). Faculty Chapters. 1936.
https://gretchen.law.nyu.edu/fac-chapt/1936