The Economics Analysis Of Issues Of Tort Law

According to the traditional tort law, a tort is an omission or a wrongful act against a person or his property. This tort should include the elements of intentional faults,damages and the causation. The core of traditional tort law includes the doctrines of liability fixation,compensation for damages and the amount of the compensation, which have some obvious theoretical limitations. This paper introduced the theory of the economics of law and analyzed the doctrine of liability fixation and compensation for damages by using Hand formula and the analyzing method of mathematics. By this way, the author explained some issues of tort law from the view of economics and found a new way to these theoretical limitations.This paper has 46000 words in total and is divided into four chapters.Chapter One discussed the theoretical issues of tort law. Taking the doctrine of liability fixation as implication, the author analyzed the theoretical limitations of this doctrine by studied the conception and the applicable scope of it and questioned the applicable condition and scope. Then the author studied the compensation for damages and punitive damages separately and found out the limitation of the traditional accounting method of the amount for compensation.Chapter Two introduced the theory of economics of law, which provides a foundation for the economics analysis hereinafter. Firstly, the author made a general introduction of this theory including the theoretical basis and the methodological interpretation. Secondly, the author introduced the Hand formula including it's origin,conception and the amendment made by Posner, which provides the most important tool for the economics analysis of paper below.Chapter Three is about the economics analysis of the doctrine of liability fixation. Firstly, the author analyzed the "fault" in the doctrine of liability for faults by economics analyzing. Secondly, the author analyzed the strict liability by the analyzing tool of mathematics. Thirdly, the author analyzed the difference between the doctrine of tort liability and strict liability from the view of economics.Chapter Four is about the difference between the damages of compensation and punitive. The author ascertained the amount of those two kinds of damages by economics analyzing. In confirming the conception of the former one the author introduced the economic concepts and ascertained the amount of compensation by different methods on the basis of the market price. Punitive damages is settled for the potential damage maker who is not responsible for his own deeds. The amount of the punitive damages is ascertained on the consideration of social benefit's maximum.