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Séminaire sur les jeux dynamiques et les applications

Smart Products: Liability, Investments in Product Safety, and the Timing of Market Introduction

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10 fév. 2022   11h00 — 12h00

Herbert Dawid Bielefeld University, Allemagne

Herbert Dawid

Présentation sur YouTube

We analyze the role of product liability for the emergence and development of smart products such as autonomous vehicles (AVs). We develop, and calibrate to the U.S. car market, a dynamic model where a (monopolistic) innovator chooses safety stock investments, the timing of market introduction, and the product price. Inducing higher long-term product safety through a strict (partial) liability rule reduces short-term safety investments and slows down AV market penetration. By contrast, negligence-based liability fosters initial investments without hampering long-term product safety. However, too stringent liability might forestall investments in the development of AVs and their market introduction.

(with and Gerd Muehlheusser)

Georges Zaccour responsable
Mahsa Mahboob Ghodsi responsable
Jafar Chaab responsable

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Webinaire
Zoom
Montréal Québec
Canada

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