Opting Out of Liability Rules

Kristelia García, Super-Statutory Contracting, __ Wash. L. Rev.  __ (forthcoming, 2020), available at SSRN.

Dotan Oliar

Economic activities often conflict: a rancher’s stray cattle may reduce the value of a neighboring farmer’s crops, or a tech company’s file-sharing app may reduce the value of music labels’ records. When conflicts arise, society needs to decide which party’s interest to protect, and whether to do so with a property right or a liability rule. The law and economics literature teaches that lawmakers should […]