The Judgment Proof Problem¶
Shavell, S. (1986). The Judgment Proof Problem. International Review of Law and Economics, 6(1), 45-58.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Mechanisms¶
- Liability Rule
- Liability also fails against the judgment-proof problem
This sourceDefines the judgment-proof problem as an injurer’s inability to pay fully for harm and shows how limited assets weaken liability’s deterrent effect.
- Liability also fails against the judgment-proof problem
- Warranty, Guarantee, or Performance Bond
- Its central weakness is that a guarantee is only as good as the poster's ability to pay: a bond from a party that will vanish or go bankrupt when the failure hits signals nothing and remedies nothing — the judgment-proof problem
This sourceDefines the judgment-proof problem as liability exceeding an injurer's available assets, which caps the effective penalty and can weaken risk-reduction incentives.
- Its central weakness is that a guarantee is only as good as the poster's ability to pay: a bond from a party that will vanish or go bankrupt when the failure hits signals nothing and remedies nothing — the judgment-proof problem
Verification¶
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Links previously used in the corpus¶
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