個案資料

Business Liability and Economic Damages is a five-chapter book published by Business Expert Press in 2016 and written by Scott D. Gilbert, associate professor of economics at Southern Illinois University, Carbondale. This book considers potential liability in business and provides insight into estimating the damages associated with liability. The author reviews the roles of insurance, the legal system, and the economist in evaluating liability and compensation for loss. He also provides basic mathematical formulas involved in determining economic loss, illustrating concepts with examples where relevant. Each chapter begins with learning objectives and ends with a short list of exercises to reinforce key concepts. In Chapter 1, Business Liability (17 pages), the author begins by defining the scope of liability possible in the social contract between business and society. He explains that the range of potential liability in a social contract is wide and shows how to analyze potential liability in a six-part model of relationships: customers, employees, owners, the public, government, and others. He explains the role that insurance plays in the social contract and the relationship of insurance to business. He also explores how the legal system provides a framework for liability considerations. He reviews the main types of harm, torts and breach of contract, as well as the system for resolving liability claims, and illustrates simple business liability through an example of unpaid rent.

• Legal liability
• Economics
• Losses