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. Chapter 2, Economic Loss (21 pages), characterizes the kinds of loss possible in business liability. The author defines loss as the prevention or limitation of economic opportunity and lists ten categories of opportunity, including competitive markets, employment and pensions, and intellectual property. He explains the relationship between economic opportunities and the consumption of goods, and the concept of utility of goods, showing how business liability reduces the utility of goods. He demonstrates how to model loss using the economic concepts of utility and consumption, and provides insight to the underlying principles of the mathematical formula. He explores the six properties of markets and how these impact the evaluation of economic loss. He also reviews how economic loss is handled in the legal system.

• Losses
• Economics
• Legal liability