Compare the efficiency and equity consequences

Reference no: EM132208357

Question: Consider the following (hypothetical) liability rule. The injurer will be held strictly liable for any damages that the victim suffers, but the payment will not be transferred to the victim. Instead, the payment will be collected by the state. In other words, tort liability will be treated as a fine paid to the state, as opposed to restitution paid to the victim. Compare the efficiency and equity consequences of this rule to that of the strict liability rule.

Reference no: EM132208357

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