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Journal articles on the topic 'Economics/products liability'

Author: Grafiati

Published: 4 June 2021

Last updated: 13 February 2022

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1

Klement, Alon, and Zvika Neeman. "Products Liability, Signaling and Disclosure." Journal of Institutional and Theoretical Economics JITE 164, no. 1 (March 1, 2008): 130–33. http://dx.doi.org/10.1628/093245608783742129.

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2

Daughety, Andrew F., and Jennifer F. Reinganum. "Products Liability, Signaling and Disclosure." Journal of Institutional and Theoretical Economics JITE 164, no. 1 (March 1, 2008): 106–26. http://dx.doi.org/10.1628/093245608783742174.

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3

Che, Yeon-Koo. "Products Liability, Signaling and Disclosure." Journal of Institutional and Theoretical Economics JITE 164, no. 1 (March 1, 2008): 127–29. http://dx.doi.org/10.1628/093245608783742183.

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4

Daughety, Andrew F., and Jennifer F. Reinganum. "Products Liability, Signaling and Disclosure." Journal of Institutional and Theoretical Economics 164, no. 1 (2008): 106. http://dx.doi.org/10.1628/jite-2008-0005.

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5

Che, Yeon-Koo. "Products Liability, Signaling and Disclosure." Journal of Institutional and Theoretical Economics 164, no. 1 (2008): 127. http://dx.doi.org/10.1628/jite-2008-0006.

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6

Klement, Alon, and Zvika Neeman. "Products Liability, Signaling and Disclosure." Journal of Institutional and Theoretical Economics 164, no. 1 (2008): 130. http://dx.doi.org/10.1628/jite-2008-0007.

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7

Wilhelmsson, Thomas. "Products liability in Finland — A maximalist version of the products liability directive." Journal of Consumer Policy 14, no. 1 (March 1991): 15–27. http://dx.doi.org/10.1007/bf00380273.

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8

Wiener, Joshua Lyle, Allen Saviers, and Fred Morgan. "Book Review: Reforming Products Liability." Journal of Public Policy & Marketing 12, no. 2 (September 1993): 282–84. http://dx.doi.org/10.1177/074391569101200215.

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9

Tsvetanov, Tsvetan, Thomas J. Miceli, and Kathleen Segerson. "Products liability with temptation bias." Journal of Economic Behavior & Organization 186 (June 2021): 76–93. http://dx.doi.org/10.1016/j.jebo.2021.03.028.

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10

Dugan, Candace Croucher. "Advertising, the Consumer Researcher and Products Liability." Journal of Public Policy & Marketing 8, no. 1 (January 1989): 227–41. http://dx.doi.org/10.1177/074391568900800115.

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When a product's advertising is introduced in a products liability suit, marketers and consumer researchers can assist both the attorneys and the judge in interpreting its significance. Did the consumer rely on misleading advertising? Did this reliance cause the injury? Appropriate market research can help answer such questions.

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11

Friehe, Tim, Eric Langlais, and Elisabeth Schulte. "On consumer preferences for (partial) products liability." Economics Letters 173 (December 2018): 128–30. http://dx.doi.org/10.1016/j.econlet.2018.10.006.

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12

Friehe, Tim, and Cat Lam Pham. "Products liability when consumers are salient thinkers." Economics Letters 186 (January 2020): 108844. http://dx.doi.org/10.1016/j.econlet.2019.108844.

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13

Spulber, Daniel F. "Products Liability and Monopoly in a Contestable Market." Economica 55, no. 219 (August 1988): 333. http://dx.doi.org/10.2307/2554011.

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14

Downs, Phillip E., and Douglas N. Behrman. "The products liability coordinator: A partial solution." Journal of the Academy of Marketing Science 14, no. 3 (September 1986): 58–65. http://dx.doi.org/10.1007/bf02723265.

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15

Viscusi, W. Kip. "Product and Occupational Liability." Journal of Economic Perspectives 5, no. 3 (August 1, 1991): 71–91. http://dx.doi.org/10.1257/jep.5.3.71.

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Increased liability for risks posed by jobs and products has transformed the cost structure of job and product markets. Liability costs used to be an incidental expense; now they are a factor of substantial economic consequence. The costs associated with a more active economic role of liability are not necessarily undesirable. However, examination of the economic objectives of the liability system will indicate that the current structure is not ideal. Perhaps the most noteworthy feature of the emerging role of liability is that it has been contemporaneous with an expansion in governmental risk regulation. The subsequent sections explore the performance of product and occupational liability with respect to the objectives of efficient deterrence and insurance, in the context of seeking an optimal mix between legal and regulatory institutions.

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16

Malamud, Semyon, Eugene Trubowitz, and Mario V. Wüthrich. "Market Consistent Pricing of Insurance Products." ASTIN Bulletin 38, no. 02 (November 2008): 483–526. http://dx.doi.org/10.2143/ast.38.2.2033351.

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We present the first step in a program to develop a comprehensive, unified equilibrium theory of asset and liability pricing. We give a mathematical framework for pricing insurance products in a multiperiod financial market. This framework reflects classical economic principles (like utility maximization) and generates pricing algorithms for non-hedgeable insurance risks.

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17

Boedecker, Karl A., and Fred W. Morgan. "Strict Liability for Sellers of Used Products: A Conceptual Rationale and Current Status." Journal of Public Policy & Marketing 12, no. 2 (September 1993): 178–87. http://dx.doi.org/10.1177/074391569101200204.

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Marketers of used products face uncertainty in the legal environment because of the inconsistent ways their offerings are treated with respect to strict product liability. The authors analyze the conceptual underpinnings of strict liability to assess its applicability to used goods. Then they examine litigated cases to present an overview of current judicial treatment of defective used products. Finally, they discuss policy issues related to used products in the context of both the law and marketing.

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18

Katzman, Martin T., and Irene A. Sullivan. "Hazardous Waste, Toxic Tort, and Products Liability Insurance Problems 1987." Journal of Risk and Insurance 57, no. 1 (March 1990): 163. http://dx.doi.org/10.2307/252933.

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19

Maggs, Peter B. "Recent developments in products liability law in the USA." Journal of Consumer Policy 14, no. 1 (March 1991): 29–33. http://dx.doi.org/10.1007/bf00380274.

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20

Morgan, Fred W. "Product Liability Developments and the Nonmanufacturing Franchisor or Trademark Licensor." Journal of Public Policy & Marketing 6, no. 1 (January 1987): 129–41. http://dx.doi.org/10.1177/074391568700600109.

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Franchisors, like other members of the distribution channel, are now increasingly exposed to product liability litigation. With the advent of strict liability for faulty products and the extension of negligence to include franchisees’ employees, franchisors must become aware of methods that will enable them to lessen their product liability exposure while also minimizing consumers’ injuries. Cases involving potential franchisor liability are analyzed to create a set of guidelines for franchisors to follow to achieve this reduced legal vulnerability.

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21

Brenkert, George G. "Social Products Liability: The Case of the Firearms Manufacturers." Business Ethics Quarterly 10, no. 1 (January 2000): 21–32. http://dx.doi.org/10.2307/3857691.

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Abstract:One of the most important and challenging issues of business ethics—or indeed of ethics more generally—is that of “moral responsibility.” And though this problem has been with us from the outset of reflection on ethics and business, the following developments in the late twentieth century have exacerbated its difficulty: the increased mobility among people, the development of increasingly complex technologies with ever more significant consequences, the extension of the distance between people’s actions and the effects of their actions, the extended distance between the manufacturers of products and the consequences of those products, the expanded possibilities for anonymous actions, and the collapse of many customary forms of restraints between both individuals and organizations. As a consequence, I believe, we are in the midst of rethinking and developing new and creative ways of extending our notion of responsibility.

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22

Baumann, Florian, and Tim Friehe. "Products liability, consumer misperceptions, and the allocation of consumers to firms." Economics Letters 198 (January 2021): 109658. http://dx.doi.org/10.1016/j.econlet.2020.109658.

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23

Morgan, Fred W., and Allen B. Saviers. "The Product Liability Responsibilities of Successor Corporations." Journal of Public Policy & Marketing 16, no. 2 (July 1997): 327–35. http://dx.doi.org/10.1177/074391569701600213.

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The liability of firms that merge with, take over the assets of, or acquire the products of other companies is governed by the terms of the asset purchase agreement and the behavior of the firms subsequent to the agreement. Here, the authors review these two aspects of mergers and acquisitions and discuss the public policy and managerial implications of holding successor firms liable. The authors show that courts recently have expanded corporate liability under two of the six approaches available for making organizations take responsibility for injuries associated with the predecessor firm's products.

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24

Baniak, Andrzej, Peter Grajzl, and A. Joseph Guse. "Producer Liability and Competition Policy When Firms Are Bound by a Common Industry Reputation." B.E. Journal of Economic Analysis & Policy 14, no. 4 (October 1, 2014): 1645–76. http://dx.doi.org/10.1515/bejeap-2013-0168.

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Abstract We contrast the laissez-faire regime with the regime of strict producer liability and draw the implications for competition policy in a setting where oligopolistic firms cannot differentiate themselves from rivals but rather are bound by a common industry reputation for product safety. We show that, first, unlike in the traditional products liability model, firms’ incentives to invest in precaution depend on market structure. Second, depending on the magnitude of expected damages awarded by the courts, laissez-faire can welfare dominate strict producer liability. Third, the relationship between social welfare and industry size, and hence the role for competition policy, depends on the institutional regime governing the industry. Under some circumstances, restricting industry size is unambiguously welfare-enhancing.

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25

Erdman, Katherine M., and Herbert W. Hildebrandt. "Stovall Home Products: Practicing Prudence to Avoid Liability." Business Communication Quarterly 61, no. 1 (March 1998): 152–63. http://dx.doi.org/10.1177/108056999806100114.

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26

Marino, Anthony M. "Products liability and scale effects in a long-run competitive equilibrium." International Review of Law and Economics 8, no. 1 (June 1988): 97–107. http://dx.doi.org/10.1016/0144-8188(88)90018-x.

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27

Manning, Richard L. "Products Liability and Prescription Drug Prices in Canada and the United States." Journal of Law and Economics 40, no. 1 (April 1997): 203–44. http://dx.doi.org/10.1086/467371.

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28

DARDEN, WILLIAM R., BARRY J. BABIN, MITCH GRIFFIN, and RONALD COULTER. "Investigation of Products Liability Attitudes and Opinions: A Consumer Perspective." Journal of Consumer Affairs 28, no. 1 (June 1994): 54–80. http://dx.doi.org/10.1111/j.1745-6606.1994.tb00814.x.

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29

Philipson, Tomas J., and Eric Sun. "Is the Food and Drug Administration Safe and Effective?" Journal of Economic Perspectives 22, no. 1 (February 1, 2008): 85–102. http://dx.doi.org/10.1257/jep.22.1.85.

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In the United States, the Food and Drug Administration (FDA) provides public oversight of the safety and efficacy of drugs; medical devices; biologics like vaccines and blood products; cosmetics; radiation-emitting electronic products; veterinary products; and all foods, except meat and poultry (which are regulated by the Department of Agriculture). According to the FDA, the products it regulates account for more than one-fifth of U.S. consumer spending. In the area of medical products, the FDA is responsible for determining whether marketed products are both safe and effective before and after they have been marketed. In this paper, we will explore whether the policies of the agency itself are safe and effective. We stress two issues, one static and one dynamic. The static issue concerns the potential duplication inefficiency when product safety is protected not only by the FDA but also by the private sector through product liability law. Put another way, what is the rationale for using product liability and the FDA to regulate drug safety? While intuitively it may seem that two systems must be better than one in ensuring drug safety, each system comes with costs. We then turn to the dynamic issue, the speed–safety trade off, and consider the extent to which higher safety is achieved at a cost of later market entry of effective and even life-saving products. We assess the Prescription Drug User Fee Acts (PDUFAs), which increased the speed of the agency's regulatory process starting in 1992, although according to some, at the cost of reducing drug safety. We conclude by suggesting a research agenda for future work on the Food and Drug Administration.

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30

Consiglio, Andrea, David Saunders, and Stavros A. Zenios. "Asset and liability management for insurance products with minimum guarantees: The UK case." Journal of Banking & Finance 30, no. 2 (February 2006): 645–67. http://dx.doi.org/10.1016/j.jbankfin.2005.04.009.

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31

BURROWS, PAUL. "PRODUCTS LIABILITY AND THE CONTROL OF PRODUCT RISK IN THE EUROPEAN COMMUNITY." Oxford Review of Economic Policy 10, no. 1 (1994): 68–83. http://dx.doi.org/10.1093/oxrep/10.1.68.

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32

Cohen, Daniel, Masako N. Darrough, Rong Huang, and Tzachi Zach. "Warranty Reserve: Contingent Liability, Information Signal, or Earnings Management Tool?" Accounting Review 86, no. 2 (March 1, 2011): 569–604. http://dx.doi.org/10.2308/accr.00000021.

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ABSTRACT: We examine the information role of accounting disclosures on warranties, utilizing a database that became available due to the requirements of FIN 45. First, because firms use warranty policies as a business strategy to promote their products, a warranty reserve can serve two roles: an information signal regarding product quality, as well as a contingent liability. Consistent with this view, we find that the stock market recognizes that: (1) the warranty reserve contains information about firms’ future performance, and (2) the reserve is a liability. Second, because warranty accruals require estimation of future claims, they can be used as a tool of earnings management. Our evidence indicates that managers use warranty accruals to manage earnings opportunistically to meet earnings targets. Finally, we find that the stock market recognizes the understatement of warranty liabilities of firms that managed earnings.

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33

Ye, Tao, Ming Wang, Wuyang Hu, Yangbin Liu, and Peijun Shi. "High liabilities or heavy subsidies." China Agricultural Economic Review 9, no. 4 (November 6, 2017): 588–606. http://dx.doi.org/10.1108/caer-06-2016-0093.

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Purpose Understanding farmers’ preferences for crop insurance attributes is crucial in designing better insurance products and guiding government policies but such research is lacking, particularly in developing countries. The paper aims to discuss these issues. Design/methodology/approach This study uses a survey featuring a discrete choice experiment and policy simulation. Findings Overall, crop insurance has positive values to farmers, although preference is heterogeneous based on socioeconomic characteristics and risk position. Policy simulation confirms the roles of liability in strengthening insurance participants’ welfare and premium subsidy in encouraging participation. Introducing one more product into the market can accommodate farmers’ diverse needs and lead to increases in both aggregated social welfare and participation while maintaining the current level of government expense in subsidy – a potential Pareto improvement. Research limitations/implications Methodology employed is not the most novel in the choice experiment literature as many of the advances in choice experiment design could not be applied due to the actual condition in rural China and Chinese farmers’ capability in understanding the experiment. Practical implications The results indicate that the current single-product market structure using “low liability with high premium subsidies” cannot accommodate the diverse needs among farmers. Providing more varieties of liability-subsidy combinations, e.g. a high liability with low premium subsidy insurance product, can substantially improve participants’ welfare with little impact to the probability of participation. Originality/value The authors believe that this is one of the very few studies that that analyze farmers’ preferences and willingness to pay for the attributes of crop insurance products. It also shows how crop insurance product design can build upon farmers’ choices to achieve a potential Pareto improvement in aggregated social welfare in the context of a fast-developing crop insurance market.

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34

Honigwachs, Joshua. "Is it Safe to Call Something Safe? The Law of Puffing in Advertising." Journal of Public Policy & Marketing 6, no. 1 (January 1987): 157–70. http://dx.doi.org/10.1177/074391568700600111.

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American law has for a long time condoned the use of exaggerated claims in advertising. Though the rules of law governing these types of claims have not been explicitly reversed, according to some legal thinkers, the attitude of the law applying these rules has over the years dramatically changed. Because the stakes are usually high in cases involving products liability, the changing attitude of the law has some of the most important effects in such litigation. This article examines one of the basic rules whose aim is to allow the making of exaggerated claims—the puffing defense. It describes the current status of the law regarding this rule and shows how the rule has been applied in products liability litigation. Through an examination of these cases, it argues that the making of an exaggerated claim is not good business practice and may easily serve as the grounds for recovery by a plaintiff injured by a defect in a product about which such an exaggerated claim of safety was made.

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35

Daughety, Andrew F., and Jennifer F. Reinganum. "Secrecy and Safety." American Economic Review 95, no. 4 (August 1, 2005): 1074–91. http://dx.doi.org/10.1257/0002828054825673.

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We provide a model showing that the use of confidential settlement as a strategy for a firm facing tort litigation leads to lower average safety of products sold than would occur if the firm were committed to openness. A rational risk-neutral consumer's response in a market, wherein a firm engages in confidential settlements, may be to reduce demand. A firm committed to openness incurs higher liability and R&D costs, though product demand is not diminished. We identify conditions such that, if the cost of credible auditing (to verify openness) is low enough, a firm prefers to eschew confidentiality.

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36

Pechon, Florian, Julien Trufin, and Michel Denuit. "MULTIVARIATE MODELLING OF HOUSEHOLD CLAIM FREQUENCIES IN MOTOR THIRD-PARTY LIABILITY INSURANCE." ASTIN Bulletin 48, no. 3 (June 8, 2018): 969–93. http://dx.doi.org/10.1017/asb.2018.21.

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AbstractActuarial risk classification studies are typically confined to univariate, policy-based analyses: Individual claim frequencies are modelled for a single product, without accounting for the interactions between the different coverages bought by the members of the same household. Now that large amounts of data are available and that the customer's value is at the heart of insurers' strategies, it becomes essential to develop multivariate risk models combining all the products subscribed by the members of the household in order to capture the correlation effects. This paper aims to supplement the standard actuarial policy-based approach with a household-based approach. This makes the actuarial model more complex but also increases the volume of available information which eases and refines forecasting. Possible cross-selling opportunities can also be identified.

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37

White, Michelle J. "Asbestos and the Future of Mass Torts." Journal of Economic Perspectives 18, no. 2 (May 1, 2004): 183–204. http://dx.doi.org/10.1257/0895330041371187.

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Asbestos was once referred to as a ‘miracle mineral’ for its ability to withstand heat and it was used in thousands of products. But exposure to asbestos causes cancer and other diseases. As of the beginning of 2001, 600,000 individuals had filed lawsuits for asbestos-related diseases against more than 6,000 defendants. 85 firms have filed for bankruptcy due to asbestos liabilities and several insurers have failed or are in financial distress. More than $54 billion has been spent on the litigation -higher than any other mass tort. Estimates of the eventual cost of asbestos litigation range from $200 to $265 billion. The paper examines the history of asbestos regulation and asbestos liability and argues that it was liability rather than regulation that eventually caused producers to eliminate asbestos from most products by the late 1970s. But despite the disappearance of asbestos products from the marketplace, asbestos litigation continued to grow. Plaintiffs' lawyers used forum-shopping to select the most favorable state courts techniques for mass processing of claims, and substituted new defendants when old ones went bankrupt. Because representing asbestos victims was extremely profitable, lawyers had an incentive to seek out large numbers of additional plaintiffs, including many claimants who were not harmed by asbestos exposure. The paper contrasts asbestos litigation to other mass torts involving personal injury and concludes that asbestos was unique in a number of ways, so that future mass torts are unlikely to be as big. However new legal innovations developed for asbestos are likely to make future mass torts larger and more expensive. I explore two mechanisms - bankruptcies and class action settlements - that the legal system has developed to resolve mass torts and show that neither has worked for asbestos litigation. The first, bankruptcy by individual asbestos defendants, exacerbates the litigation by spreading it to non-bankrupt defendants. The second, a class action settlement, is impractical for asbestos litigation because of the large number of defendants. As a result, Congressional legislation is needed and the paper discusses the compensation fund approach that Congress is currently considering.

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38

Choi, A. H., and K. E. Spier. "Should Consumers be Permitted to Waive Products Liability? Product Safety, Private Contracts, and Adverse Selection." Journal of Law, Economics, and Organization 30, no. 4 (January 13, 2014): 734–66. http://dx.doi.org/10.1093/jleo/ewt019.

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39

Bryan, Gharad. "Ambiguity Aversion Decreases the Impact of Partial Insurance: Evidence from African Farmers." Journal of the European Economic Association 17, no. 5 (January 29, 2019): 1428–69. http://dx.doi.org/10.1093/jeea/jvy056.

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Abstract Indemnifying smallholder farmers against crop loss is thought to play an important role in encouraging the adoption of new technologies and facilitating productivity growth, but to be infeasible due to information problems. Consequently there is interest in developing alternative, partial, insurance products. Examples include rainfall insurance and the limited liability inherent in credit contracts. I argue that although these products may reduce information asymmetry, ambiguity averse farmers struggle to assess whether the contracts reduce risk. This problem is most pronounced when the production technology is ambiguous, as is likely the case for new technologies. I formalize this argument and test the theory using data from two RCTs, conducted in Malawi and Kenya. Comparative statics from the theory are consistent with both sets of data, and I argue that income losses from ambiguity aversion may be substantial.

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40

Tereszkiewicz, Piotr, and Katarzyna Południak-Gierz. "Liability for Incorrect Client Personalization in the Distribution of Consumer Insurance." Risks 9, no. 5 (May 1, 2021): 83. http://dx.doi.org/10.3390/risks9050083.

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The use of personalization mechanisms should allow the insurance distributor to reduce exploration costs and adjust the offered insurance product to the needs, features, and situation of each individual client. This study seeks to examine how liability should be allocated when the process of the personalization of an insurance product does not result in the client’s choice of an optimal product. First, we identify the typical uses of new technologies allowing for an adjustment of insurance contracts. Second, we analyze the interplay between their application and the legal obligations of insurance product distributors. Subsequently, the paper discusses the scope of factors the insurance distributor is liable for when using personalizing tools in contacts with clients. We submit that offering an online personalization of insurance products ought to be regarded as being equivalent to providing advice under Art. 2, Sec. 1, Point 15 of the European Union Insurance Distribution Directive (IDD). From the consumer’s perspective, our analysis makes the case for the insurance distributor’s liability for mispersonalization of an insurance contract.

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41

May, James. "Science, Politics, and the Evolution of Law and Neoclassical Economics." Law and History Review 15, no. 2 (1997): 333–38. http://dx.doi.org/10.2307/827656.

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James Hackney's article provocatively points our attention to very important and underexplored issues concerning the interplay of science and politics in the dramatic evolution of law and neoclassical economics since the Second World War. At the heart of his article is his rejection of any reductionist interpretation of the leading developments in this area. Modern law and neoclassical economics, he argues, cannot be accurately viewed either as merely a faithful, nonpoliticized application of modern social science or, alternatively, as simply a convenient vehicle for the promotion of particular contentious political beliefs. Hackney insists that law and neoclassical economics, both in general and in the specific doctrinal area he emphasizes, is about both science and politics. His article seeks to demonstrate this duality and, more broadly, to clarify the general nature and evolution of modern law and economics. Hackney highlights key general characteristics of twentieth-century intellectual thought and examines the influence of those characteristics, as well as the interplay between science and politics, in a series of landmark works on law and economics that have great relevance to recent debates over appropriate products liability standards.

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42

Geistfeld, Mark A. "The Law and Economics of Tort Liability for Human Rights Violations in Global Supply Chains." Journal of European Tort Law 10, no. 2 (August 13, 2019): 130–65. http://dx.doi.org/10.1515/jetl-2019-0108.

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AbstractThe human rights of foreign workers in global supply chains are routinely violated, yet the problem so far has largely evaded a legal solution. Economic analysis shows why domestic tort liability can partially address this problem. Many consumers in developed countries have a lower willingness-to-pay for products produced by global supply chains that systemically subject foreign workers to egregiously dangerous working conditions in gross violation of their human rights. This attribute of consumer demand provides a basis for subjecting the domestic chain leader to domestic tort liability for the bodily injuries suffered by these foreign workers, including those employed by independent suppliers. Chain leaders, like other product sellers, are obligated to warn about foreseeable safety risks that are not known by consumers and would be material to their decision about whether to purchase or use a product. The tort duty also requires sellers to instruct consumers about the ways in which the purchase or use of the product might foreseeably harm third parties. A domestic seller that is the chain leader of a global supply chain would breach this duty by not warning domestic consumers that the product is produced by foreign workers who are systemically subjected to working conditions that are so unsafe as to amount to a gross violation of their human rights. Because the purchase of the product foreseeably exposes foreign workers to this ongoing risk of physical harm, they are protected by the tort duty and can recover for its breach. Causation can be established by the logic of the breached tort duty. If consumers had been warned that the product is produced in such a systemically unsafe work environment, a substantial number of them would not have purchased it – they would instead have purchased the same product at the higher price necessary to protect the foreign workers from these ongoing safety violations. By distorting consumer demand in this manner, the domestic product seller’s failure to warn domestic consumers of these human rights violations in the global supply chain proximately caused injury to these foreign workers, entitling them to compensation. By remedying these human rights violations, domestic chain leaders would satisfy the reasonable expectations of domestic consumers who have altruistic preferences to rescue foreign workers from extreme dangers within the production process. Tort law cannot redress the full range of human rights violations in global supply chains, but consumer demand provides a sound basis for tort liability that addresses a limited, though important component of the problem.

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43

Kowalewski, Mirosław, and Małgorzata Murawska. "Compliance and Non-Compliance Costs in Selected Manufacturing Enterprises." Olsztyn Economic Journal 7, no. 1 (June 30, 2012): 121–32. http://dx.doi.org/10.31648/oej.3411.

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Quality cost analysis is considered a very important instrument used in quality economics. Interpretation of changes in the quality cost level, cost optimisation effectiveness and indicating the directions for quality improvement plan verification represent the subject of this analysis. Evaluation of the compliance and non-compliance costs in the development of quality costs in a selected enterprise during the years 2004-2009 was the main goal of this study. A limited liability company conducting manufacturing activity in the province of Warmia and Mazury was selected which mainly produces accessories to automotive vehicles and machines. As the result of the conducted studies, the following ultimate conclusions were formulated: - quality costs in the enterprise surveyed showed an increasing trend during the years 2004-2007 and as of 2008 a decreasing trend was observed (in 2009 they decreased by 17% as compared to 2008), - the ratio of losses from the total defective production during the years 2004-2006 showed a decreasing trend; the significant change in the value of defective products manufactured proves the efficiency of the quality management system applied in the company, - with the increase in the costs of activities related to preventing poor quality, the costs of defective products and the total quality costs decrease.

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44

Wrede, Dirk, Tino Stegen, and Johann-Matthias Graf von der Schulenburg. "Affirmative and silent cyber coverage in traditional insurance policies: Qualitative content analysis of selected insurance products from the German insurance market." Geneva Papers on Risk and Insurance - Issues and Practice 45, no. 4 (September 7, 2020): 657–89. http://dx.doi.org/10.1057/s41288-020-00183-6.

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Abstract This paper examines the design of affirmative and silent coverage in view of the cyber risks in traditional insurance policies for select product lines on the German market. Given the novelty and complexity of the topic and the insufficient coverage in the literature, we use two different sources. We analysed the general insurance terms and conditions of different traditional insurance lines using Mayring’s qualitative content analysis. Also, we conducted interviews with experts from the German insurance industry to evaluate how insurers understand their silent cyber exposures, and what measures they take to deal with this new exposure. The study shows a considerable cyber liability risk potential for insurers in the considered insurance lines. This arises from the affirmative as well as silent cover inclusions and exclusions for cyber risks, which result from imprecise wordings of insurance clauses and insufficient descriptions of the contractually specified scope of the insurance coverage.

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Reich, Norbert. "Product safety and product liability — An analysis of the EEC Council Directive of 25 July 1985 on the approximation of the laws, regulations, and administrative provisions of the Member States concerning liability for defective products." Journal of Consumer Policy 9, no. 2 (June 1986): 133–54. http://dx.doi.org/10.1007/bf00380508.

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Parry, Bronwyn. "The Social Life of “Scaffolds”." Science, Technology, & Human Values 43, no. 1 (October 15, 2017): 95–120. http://dx.doi.org/10.1177/0162243917735179.

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Technologies for enhancement of the human body historically have taken the form of an apparatus: a technological device inserted in, or appended to, the human body. The margins of these devices were clearly discernible and materially circumscribed, allowing the distinction between the corporeality of the human body and the “machine” to remain both ontologically and materially secure. This dualism has performed some important work for human rights theorists, regulators, and policy makers, enabling each to imagine they can establish where the human ends and the other begins. New regenerative products such as Infuse™ and Amplify™ subsist, as animal-derived scaffolds seeded with growth hormone implanted within a prosthetic device. They are much more materially complex, and their identities thus remain open to contestation. Following Lochlann Jain’s 2006 work, I thus attend closely to their social lives, particularly the stories that are told about them and how these are employed to construct understandings of what kind of a phenomenon they are: systemic drug, biologic, or combinatorial medical device. The significance of this classificatory project is revealed in the final section of this paper, which explores how these stories shape understandings of “product failure,” liability, and causation when such products overflow their material and ontological categorization and their recipients become disturbingly “more than human.”

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Landes, William M., and Richard A. Posner. "A Positive Economic Analysis of Products Liability." Journal of Legal Studies 14, no. 3 (December 1985): 535–67. http://dx.doi.org/10.1086/467785.

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Hendarto, Kresno Agus. "The Implementation of Corporate Social Responsibility (CSR) in Central Java Earthquake: A Preliminary Study on Consumer Belief, Attitude, and Purchase Intention." Gadjah Mada International Journal of Business 11, no. 3 (September 12, 2009): 409. http://dx.doi.org/10.22146/gamaijb.5522.

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In Indonesia, Law No. 40/2007 paragraph 74 on Limited Liability Corporation regulates corporate social responsibility (CSR). Although CSR is mandatory for Indonesian resource-based firms, only four months after its enactment, six parties have asked for a judicial review to the Constitution Court as to the mandatory implementation of CSR. They argue that the mandatory implementation of CSR might result in legal uncertainty, render businesses inefficient, decrease competitiveness, and trigger discriminative treatments. Using the cases of CSR after the earthquake in Yogyakarta, this paper aims at answering the question of whether the implementation of CSR will lead to a decrease in competitiveness. Harnessing a mixed method of qualitative and quantitative approaches, this paper examines the models of beliefs, attitudes, and purchase intentions of consumers toward a company implementing CSR. The first phase of this study used a focus group discussion (FGD) to collect data from those who had benefited from CSR, and was analyzed using the content analysis. The results of the first phase then became the basis for the second phase. In the second phase, data were collected by surveying parents of school children whose school buildings were reconstructed by CSR programs, and answers were analyzed using the partial least squares analysis. Results show that the conjecture that the implementation of CSR will result in a decrease in competitiveness is not true. It is evident that CSR program affects the attitudes of consumers toward the firm, and that attitude fully mediates the relation between beliefs and purchase intentions toward the products of the firm implementing CSR.

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Malamud, Semyon, Eugene Trubowitz, and Mario V. Wüthrich. "Market Consistent Pricing of Insurance Products." ASTIN Bulletin 38, no. 2 (November 2008): 483–526. http://dx.doi.org/10.1017/s0515036100015269.

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We present the first step in a program to develop a comprehensive, unified equilibrium theory of asset and liability pricing. We give a mathematical framework for pricing insurance products in a multiperiod financial market. This framework reflects classical economic principles (like utility maximization) and generates pricing algorithms for non-hedgeable insurance risks.

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Zelen, Melissa. "Products Liability Issues in School Asbestos Litigation." American Journal of Law & Medicine 10, no. 4 (1985): 467–89. http://dx.doi.org/10.1017/s0098858800009412.

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AbstractThe hazards posed by deteriorating friable asbestos in the nation’s schools are causing serious concerns for public health officials, school boards, parents and school employees. Reports by both the Environmental Protection Agency and the U.S. Attorney General’s Office agree that both school children and school employees stand a substantially increased risk of contracting some form of asbestos-related disease as a result of exposure to deteriorating asbestos materials in school buildings.School systems plagued by die asbestos hazards are now filing suits against asbestos manufacturers alleging causes of action in breach of warranty, negligence and strict products liability in tort. Some plaintiffs in school asbestos litigation seek to recover die costs of EPA-mandated asbestos inspection and abatement programs which have already been completed. Still others request injunctions to compel the manufacturers themselves to conduct inspections and finance abatement.This Note examines the school asbestos situation from a legal perspective and focuses primarily on whether die schools’ claims should be considered as economic losses or as property damage. It examines die impact of statutes of limitations on these cases under both contract and tort theories. The Note argues diat school asbestos claims should be decided under a strict products liability standard.

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