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  Fines versus Damages: Experimental Evidence on Care Investments

Baumann, F., Friehe, T., & Langenbach, P. (2020). Fines versus Damages: Experimental Evidence on Care Investments.

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Item Permalink: http://hdl.handle.net/21.11116/0000-0006-5E7C-7 Version Permalink: http://hdl.handle.net/21.11116/0000-0006-62A2-4
Genre: Paper

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 Creators:
Baumann, Florian, Author
Friehe, Tim, Author
Langenbach, Pascal1, Author              
Affiliations:
1Max Planck Institute for Research on Collective Goods, Max Planck Society, ou_2173688              

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Free keywords: Externality, Care, Liability, Damages, Fine
 JEL: H62 - Deficit; Surplus
 JEL: K42 - Illegal Behavior and the Enforcement of Law
 Abstract: This paper studies the differential effects of fines and damages on people’s investment in accident prevention. We report results from a laboratory experiment in which monetary payoffs are maintained across the two policy instruments. While standard theory predicts no difference in behavior, we find that potential injurers invest substantially more money in accident prevention when they are subject to damages instead of a fine. We discuss possible behavioral channels that may explain our findings.

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 Dates: 2020-05-12
 Publication Status: Published online
 Pages: -
 Publishing info: Bonn : Max Planck Institute for Research on Collective Goods, Discussion Paper 2020/8
 Table of Contents: -
 Rev. Type: -
 Identifiers: Other: 2020/8
 Degree: -

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