Author(s)

Jing Zhou ¹

Affiliation(s)

¹ Università degli Studi di ROMA "La Sapienza", Rome, Italy

Corresponding Author

Jing Zhou

ABSTRACT

The information asymmetry of market players leads to product safety becoming a regulatory issue. From the perspective of law and economics, the consumer principle requires manufacturers to balance investment in product safety with consumer insurance benefits. The producer principle requires producers to face the conflict between product safety improvements and product innovation and to balance the two. Product liability under Chinese law tends to favour the former. Singh's economic analysis model of effective product liability rules (2001) demonstrates the relative superiority of strict liability, but it is not perfect. It is hoped that, by analysis from the perspective of law and economics, the legal regime relating to product liability in China will move towards effective improvements that balance the interests of the individual and those of society.

KEYWORDS

Product liability, consumer principle, producer principle, strict liability

CITE THIS PAPER

Jing Zhou, Imputation Principle of Product Liability in the Perspective of Law and Economics: Concurrence of Contract Law and Tort Law. Information Systems and Economics (2023) Vol. 4: 65-68. DOI: http://dx.doi.org/10.23977/infse.2023.040209.

REFERENCES

[1] Victor Goldberg. Framing Contract Law: An Economic Perspective, Harvard University Press, 2007
[2] Cooper. R and T. Ross. Prices, Product Qualities and Asymmetric Information: the Competitive Case, Review of Economic Studies, 1984.51.197-208
[3] Viscusi W. Kip, Product Liability and Regulation: Establishing and Appropriate Institutional Division of Labor, The American Economic Review, 1988, Vol. 78, No. 2, 300-304.
[4] Shi Jinchuan, Economics of Law: Theory and Application, Economics Science Press, 2011
[5] Hylton Keith, Costly Litigation and Legal Error under Negligence, Journal of Law, Economic and Organization, Vol. 6, 433, 1990
[6] R. Cooter, T. Ulen, Law and Economics, Gezhi Press, Edition. 6th, 2012.

Sponsors, Associates, and Links

---

• Accounting, Auditing and Finance
  
  
• Industrial Engineering and Innovation Management
  
  
• Tourism Management and Technology Economy
  
  
• Journal of Computational and Financial Econometrics
  
  
• Financial Engineering and Risk Management
  
  
• Accounting and Corporate Management
  
  
• Social Security and Administration Management
  
  
• Population, Resources & Environmental Economics
  
  
• Statistics & Quantitative Economics
  
  
• Agricultural & Forestry Economics and Management
  
  
• Social Medicine and Health Management
  
  
• Land Resource Management
  
  
• Information, Library and Archival Science
  
  
• Journal of Human Resource Development
  
  
• Manufacturing and Service Operations Management
  
  
• Operational Research and Cybernetics