The social costs of dangerous products: an empirical investigation.

Sidney Shapiro, Ruth Ruttenberg, J Paul Leigh

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

Defective consumer products impose significant costs on consumers and third parties when they cause fatalities and injuries. This Article develops a novel approach to measuring the true extent of such costs, which may not be accurately captured under current methods of estimating the cost of dangerous products. Current analysis rests on a narrowly defined set of costs, excluding certain types of costs. The cost-of-injury estimates utilized in this Article address this omission by quantifying and incorporating these costs to provide a more complete picture of the true impact of defective consumer products. The new estimates help to gauge the true value of the civil liability system.

Original languageEnglish (US)
Pages (from-to)775-829
Number of pages55
JournalCornell journal of law and public policy
Volume18
Issue number3
StatePublished - Jun 2009
Externally publishedYes

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social costs
Costs and Cost Analysis
costs
Wounds and Injuries
liability
cause
Values

ASJC Scopus subject areas

  • Medicine(all)

Cite this

The social costs of dangerous products : an empirical investigation. / Shapiro, Sidney; Ruttenberg, Ruth; Leigh, J Paul.

In: Cornell journal of law and public policy, Vol. 18, No. 3, 06.2009, p. 775-829.

Research output: Contribution to journalArticle

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