Is the treatment of economic loss by the Australian courts in torts cases anomalous?

Torre, Andrew and Clifford, Adrian 2005, Is the treatment of economic loss by the Australian courts in torts cases anomalous?, European journal of law and economics, vol. 20, no. 2, pp. 145-164.

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Title Is the treatment of economic loss by the Australian courts in torts cases anomalous?
Author(s) Torre, Andrew
Clifford, Adrian
Journal name European journal of law and economics
Volume number 20
Issue number 2
Start page 145
End page 164
Publisher Springer Netherlands
Place of publication Amsterdam, The Netherlands
Publication date 2005-09
ISSN 0929-1261
1572-9990
Keyword(s) efficiency
corrective justice
externalities
optimal risk management
Summary The well developed economic theory of tort liability has never been able to comfortably accommodate negligence cases causing pure economic loss as opposed to physical damage or injury. In fact, contrary to received opinion, Australian Courts at least, are increasingly allocating pure economic losses to achieve predominantly an efficiency objective, with corrective justice notions relegated into the background. Consequently, it is difficult to classify these cases as anomalous in the sense of falling outside the efficiency paradigm.
Language eng
Field of Research 140299 Applied Economics not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2005, Springer Science + Business Media, Inc.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30002918

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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