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Punitive Damages in American Law

Author(s): Aleksandar Mojašević
Subject(s): Psychology, Civil Law, Law on Economics
Published by: Institut za uporedno pravo
Keywords: damages; prevention; punishment; efficiency;

Summary/Abstract: In this study the author examines the punitive damages in the American law, both from legal and economical perspective. The purpose of punitive damages boils down to achieving three very important social goals: prevention, compensation and punishment. Since these goals may not be necessarily compatible, the author aims at establishing the economical implications derived from the application of punitive damages. Particular attention is payed at the question of the optimal prevention of an expected harm, which is addressed by application of economical models in scientific examination. However, the psychological researches throw a different light on the economical implications of punitive damages, so the study is shaped with the psychological dimension thereof. The first part of the study deals with the notion and the purpose of punitive damages in the American law. The second part concerns the question of the optimal prevention of expected harm, both from individual and societal perspective. In the third part, the author presents results of the latest psychological experimental researches regarding the personal attitudes toward the role of optimal prevention. In this part, the ongoing American legal reform of punitive damages is also presented. Finally, the author summarizes the subject matter, draws partial conclusions based on the economical models as well as the experimental researches, and states the general conclusion regarding the role of punitive damages in achieving the abovementioned social ends.

  • Issue Year: 2011
  • Issue No: 1
  • Page Range: 197-216
  • Page Count: 20
  • Language: Serbian