midterm2_study

midterm2_study - Since midterm 1, we covered the following...

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1 83 Since midterm 1, we covered the following topics, Property rights : • And the comparison with common rights. • Intellectual property rights: what are they and why are we protecting them. Are they efficient? The tort law • What is it? What is harm and causation? • Different rules to use in tort cases. What are they? When are they efficient? • Punitive damages. • Risk and insurance. Risk aversion, moral hazard and adverse selection. 84 1. Property rights What is the difference between property rights and common rights? What is the advantages and disadvantages of each system? How does the transaction cost matter in deciding which system to use? What are the existing intellectual property law? Why does supply elasticity matter in determining whether to protect intellectual property rights?
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2 85 • What is the consequences of a temporary monopoly in the context of intellectual rights protection? • What are the major advantages and
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This note was uploaded on 05/30/2008 for the course ECON 119 taught by Professor Wi during the Spring '08 term at UC Riverside.

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midterm2_study - Since midterm 1, we covered the following...

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