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Mercatus On Policy: Using Economics Experiments to Evaluate Tort Reform Proposals

Mercatus On Policy
Kevin McCabe, Laura Inglis
November 30, 2007

Mercatus Scholar Kevin McCabe and Laura Inglis examine U.S. tort reform proposals through economic experiments.

Using Neuroeconomics Experiments to Study Tort Reform

Mercatus Policy Series, Policy Comments
Kevin McCabe, Laura Inglis
November 30, 2007

Mercatus Scholar Kevin McCabe and Laura Inglis provide an overview of the tort process and introduce a scientific approach for evaluating tort reform proposals. In this Mercatus Policy Series, they describe an experiment that models the tort process and attempt to identify factors that promote pre-trial settlements.

Reciprocity and Social Order: What Do Experiments Tell Us About Economic Growth?

Research Papers/Studies
Kevin McCabe
April 4, 2003

This paper makes three observations for policymakers interested in promoting economic growth, based on the experimental work done at the Interdisciplinary Center for Economic Science. 1. Place safeguards to protect impersonal exchange from our innate desire for personal exchange. 2. Policy must take into account the heterogeneity of individual cognitive strategies. 3. Policy must be test-bedded in economic experiments where the status quo is modeled as an ecologically rational response to the economic environment and the proposed policy change occurs in an environment where individuals have access to a full repertoire of personal exchange behaviors.