The Elgar Companion to Law and Economics
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The Elgar Companion to Law and Economics

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Edited by Jürgen G. Backhaus

This authoritative and comprehensive reference work introduces the reader to the major concepts and leading contributors in the field of law and economics. The Companion features accessible, informative and provocative entries on all the significant areas and breaks new ground by bringing together widely dispersed but theoretically congruent ideas for the first time.
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Chapter 46: Pietro Trimarchi (1934-)

Giampaolo Frezza and Francesco Parisi

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46 Pietro Trimarchi (1936) Giampaolo Frezza and Francesco Parisi Introduction In 1961, Pietro Trimarchi published Rischio e Responsabilitd Oggettiva (Risk and Strict Liability) (Milan: Giuffr&), a monograph that has become a milestone in the economic analysis of the law in Italy. In the United States, meanwhile, the writings of Ronald Coase, Richard A. Posner, Guido Calabresi and Gary Becker were popularizing the so-called ‘new law and economics’. Trimarchi, however, studied the delicate question of strict liability separately. His independent study focused on the function and the structure of strict liability in microeconomic terms. Pietro Trimarchi’s works include other publications concerning the economic approach to law. Particularly relevant, and quoted in the above-mentioned monograph, is I1 ‘caso fortuito ’ quale limite della responsabilita per il danno da cose (‘Fortuitous Event’ As a Limit of the Liability for Damage Caused by Things) (Riv. trim. Dir. e proc. civ. 1959, at 827 ff). Another monograph, titled Causalitd e danno (Causality and damage) (Milan: Giuffrk, 1967)’ synthesizes the content of the author’s theory on strict liability for enterprise risk. This article fully develops Trimarchi’s theory of strict liability for enterprise risk. Furthermore, it devotes particular attention to the economic analysis of the principles of contractual liability that Trimarchi takes pains to develop and contrast with widespread and respected theories from the United States. According to Trimarchi, a legal system, not a conventional system of contractual liability, provides an optimal distribution of productive resources, as supported in a famous essay by Coase. Finally, an...

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