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Unformatted text preview: At certain times it is imperative that the bargee is on the barge. At others it is relatively safe and he can leave. Defense : Carroll Towing Company Inc., et al. Verdict : The bargee should have been on the barge unless he had an excuse for his absence which he did not. Law and Economics Notes : Probability = P Injury = L Burden = B Liability depends on if: < B P L Burden depends on whether B is less than P x L. This is cost benefit analysis. It looks at externalities and probabilities of incident....
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This note was uploaded on 12/11/2007 for the course ECON 4040 taught by Professor Hay during the Fall '07 term at Cornell University (Engineering School).
- Fall '07