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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...

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Published in:American Economic Review Vol. 64; no. 1; pp. 149 - 162
Main Author: Brown, John P.
Format: Article
Published: American Economic Association Mar1974
Subjects:
Commerce
Manufactured products
Purchasing agents
Selling
Insurance companies
United States
Online Access:View this record in EBSCOhost