Legal cost insurance and social welfare

Authors
van Velthoven, B van Wijck, P
Citation
B. Van Velthoven et P. Van Wijck, Legal cost insurance and social welfare, ECON LETT, 72(3), 2001, pp. 387-396
Citations number
15
Categorie Soggetti
Economics
Journal title
ECONOMICS LETTERS
ISSN journal
01651765 → ACNP
Volume
72
Issue
3
Year of publication
2001
Pages
387 - 396
Database
ISI
SICI code
0165-1765(200109)72:3<387:LCIASW>2.0.ZU;2-K
Abstract
Private legal cost insurance can come into being even when all individuals are risk-neutral, as being insured strengthens the strategic position of vi ctims vis-A-vis potential injurers. Legal cost insurance may increase socia l welfare, but need not do so. (C) 2001 Elsevier Science BY All rights rese rved.