Abstract Details
Activity Number:
|
618
|
Type:
|
Invited
|
Date/Time:
|
Thursday, August 8, 2013 : 8:30 AM to 10:20 AM
|
Sponsor:
|
Scientific and Public Affairs Advisory Committee
|
Abstract - #307324 |
Title:
|
Variability in Punitive Damages: Empirically Assessing Exxon Shipping Co. v. Baker
|
Author(s):
|
Martin T Wells*+
|
Companies:
|
Cornell University
|
Keywords:
|
Exxon Shipping Co. v. Baker ;
constitutional doctrine ;
empirical legal study ;
U. S. Supreme Court
|
Abstract:
|
Exxon Shipping Co. v. Baker acknowledged that empirical studies undercut criticism of punitive damages. Paradoxically, the U. S. Supreme Court simultaneously expressed concern about jury predictability based on a high and variable punitive-compensatory ratio published in an article by the present authors. The Court reduced the $2.5 billion Exxon Valdez punitive award to $500 million and stated: "the constitutional outer limit may well be 1:1." Our empirical findings do not support the unpredictability concern or widely applying the limiting ratio. The high and variable ratio is an artifact of not accounting for the key variables that explains punitive awards.
|
Authors who are presenting talks have a * after their name.
Back to the full JSM 2013 program
|
2013 JSM Online Program Home
For information, contact jsm@amstat.org or phone (888) 231-3473.
If you have questions about the Continuing Education program, please contact the Education Department.
The views expressed here are those of the individual authors and not necessarily those of the JSM sponsors, their officers, or their staff.
Copyright © American Statistical Association.