Product Liability: the Case of an Asset with Random Life.
This article analyzes the risk factors that surround assets in commerce in the U.S. The risk is shared by three agents: the seller of the asset; the buyer; and an insurer. Assume that the buyer knows with certainty the form of the failure distribution but not the parameters. The seller and the insur...
| Publicado en: | American Economic Review Vol. 64; no. 1; pp. 149 - 162 |
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| Formato: | Artículo |
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American Economic Association
Mar1974
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4487032&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4487032 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00028282 AER jtl: American Economic Review issn: 00028282 maglogo: N pubinfo: dt: Mar1974 vid: 64 iid: 1 pid: 22 pub: American Economic Association artinfo: ui: 4487032 ppf: 149 ppct: 13 formats: tig: atl: Product Liability: the Case of an Asset with Random Life. aug: au: Brown, John P. affil: Associate Professor of Economics, Cornell Law School su: Commerce Manufactured products Purchasing agents Selling Insurance companies United States sug: subj: United States Commerce Manufactured products Purchasing agents Selling Insurance companies ab: This article analyzes the risk factors that surround assets in commerce in the U.S. The risk is shared by three agents: the seller of the asset; the buyer; and an insurer. Assume that the buyer knows with certainty the form of the failure distribution but not the parameters. The seller and the insurer still know the complete distribution with certainty. Assume that the true failure distribution is exponential with intensity parameter, so the probability density functions. The buyer is then presumed to know that the form of the distribution is exponential, but he does not know the value. Instead, the buyer's beliefs about the true value can be expressed as a probability distribution about the true value with density. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1974 holdings: @attributes: islocal: N |
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