NDLI: Limited Liability and the Known Unknown

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Limited Liability and the Known Unknown

Content Provider	Scilit
Author	Simkovic, Michael
Copyright Year	2018
Description	Journal: SSRN Electronic Journal Private firms often withhold information or contest scientific knowledge when public revelation could lead to costly regulations or liability. This concealment leads to negative externalities and public harm.But what if private firms’ superior knowledge and self-interest could be harnessed to reveal information about risks and accelerate the implementation of safety regulations? In Limited Liability and the Known Unknown, I argue that firms that desire limited liability for their investors should be forced to pay what they believe limited liability is worth. This would have several salutary effects. Firms’ choice between unlimited liability and higher taxes would reveal important information about internal risk assessments, reduce public-private information asymmetries, and accelerate the application of scientific knowledge to personal and public health.
Related Links	https://scholarship.law.duke.edu/cgi/viewcontent.cgi?article=3954&context=dlj https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3121519
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3121519
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2018-02-27
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Limited Liability Information Asymmetry Revealed Preference
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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