Speaker: Yue Qiao, Shandong University
Host: Lan Zhang, Associate Professor, RIEM
Time: 14:30--16:00, Nov. 21, Friday
Venue: H515 Yide Hall, Liulin Campus
Abstract: In the standard settings of tort or contract case, the interaction between the plaintiff and defendant results in harm to the plaintiff. The defendant commits actions based on his belief of the potential damage (fixed damage). In this paper, we identify and analyze a different category of cases in which the potential defendant's action can have either positive or negative externality. This means that interactions between litigants results benefit to the defendant and harm or benefit to the plaintiff. In addition, the defendant is able to assess the result of his action (actual damage) accurately ex ante. We show that: first, the defendant acquires information about the potential harm at the the socially optimal frequency, second, when there is chance of costly information acquisition beforehand, fixed damage may fare worse than actual damage.
About the speaker: 乔岳，本科毕业于兰州大学物理系，硕士与博士毕业于英国萨里大学（University of Surrey）经济系。2008年加入山东大学，现任山东大学威廉姆森法律、经济与组织研究中心主任、经济学院教授。兼任浙江大学法律与经济研究中心学术委员、亚洲法经济学会理事、Asian Journal of Law and Economics副主编。当前主要研究方向包括法经济学、产业经济学、卫生经济学。他在论文见于Review of Industrial organization、Economic modeling、Asian Journal of law and economics 和世界经济 等国内外权威杂志上。
