Article

Optimal Precautions and the Law of Fire Damages

Jacob Rosenberg

in The Oxford Handbook of Judaism and Economics

Published in print December 2010 | ISBN: 9780195398625
Published online September 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780195398625.013.0007

Series: Oxford Handbooks

 Optimal Precautions and the Law of Fire Damages

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This article presents an example of the use of economic analysis to understand Jewish law. The model used is an application of the economic analysis of law, which has become increasingly prominent in the philosophy and study of law. Economic analysis of law deals not only with those aspects of law that are usually regarded as purely “economic,” but also with more general categories of law, such as property rights, torts, and family law. Indeed, it can be said to deal with all aspects of civil and criminal law. Following this new approach, this article seeks to apply the economic analysis of law to Jewish tort law and, specifically, to laws relating to fire damage. It explains the economies of the laws of fire damage followed by proper care and due care as well as efficient care. This article enumerates a graphical illustration of the unilateral care model; an analysis of differential care concludes the article.

Keywords: optimal precautions; economic analysis; property rights; torts; family laws

Article.  10331 words. 

Subjects: Economics ; Financial Markets ; Industry Studies

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