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Punitive Damages by Numbers: Exxon Shipping Co. v. Baker

dc.contributor.authorHersch, Joni, 1956-
dc.contributor.authorViscusi, W. Kip
dc.date.accessioned2014-06-03T19:48:51Z
dc.date.available2014-06-03T19:48:51Z
dc.date.issued2010
dc.identifier.citation18 Sup. Ct. Econ. Rev. 259 (2010)en_US
dc.identifier.urihttp://hdl.handle.net/1803/6394
dc.description.abstractThe U.S. Supreme Court decision in Exxon Shipping Co. v. Baker is a landmark that establishes an upper bound ratio of punitive damages to compensatory damages of 1:1 for maritime cases, with potential implications for other types of cases as well. This article critiques the Court’s reliance on the median ratio of punitive to compensatory damages in samples of verdicts to set an upper bound for punitive damages awards. Our critique of the approach draws on the properties of statistical distributions and a new analysis of cases with punitive damages awards. The Court’s conclusion that a 1:1 ratio establishes a fair upper bound lacks a sound scientific basis.en_US
dc.format.extent1 PDF (23 pages)en_US
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.publisherSupreme Court Economic Reviewen_US
dc.subjectExxon Shipping Co. v. Bakeren_US
dc.subject.lcshExemplary damages -- United Statesen_US
dc.subject.lcshMaritime law -- United Statesen_US
dc.titlePunitive Damages by Numbers: Exxon Shipping Co. v. Bakeren_US
dc.typeArticleen_US
dc.identifier.ssrn-urihttp://ssrn.com/abstract=1327045


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