English, Article, Journal or magazine article edition: The Incentive Effects of No Fault Automobile Insurance J. David Cummins; Mary A. Weiss; Richard D. Phillips

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Bookmark: http://trove.nla.gov.au/version/190034
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Incentive Effects of No Fault Automobile Insurance
Author
  • J. David Cummins
  • Mary A. Weiss
  • Richard D. Phillips
Physical Description
  • preprint
Notes
  • This paper presents a theoretical and empirical analysis of the effects of no fault automobile insurance on accident rates. As a mechanism for compensating the victims of automobile accidents, no fault has several important advantages over the tort system. However, by restricting access to tort, no fault may weaken incentives for careful driving, leading to higher accident rates. We conduct an empirical analysis of automobile accident fatality rates in all U.S. states over the period 1982-1994, controlling for the potential endogeneity of no fault laws. The results support the hypothesis that no fault is significantly associated with higher fatal accident rates than tort.
  • RePEc:wop:pennin:99-38
Language
  • English
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