Alison F. Del Rossi
Department of Economics
St. Lawrence University
Canton, New York 13617
Institutional Affiliation: St. Lawrence University
NBER Working Papers and Publications
|December 2009||The Changing Landscape of Blockbuster Punitive Damages Awards|
with W. Kip Viscusi: w15571
This article investigates the determinants of the blockbuster punitive damages awards of at least $100 million. As of the end of 2008, there had been 100 such awards with an average value of $3.0 billion. The U.S. Supreme Court decision in State Farm v. Campbell suggested a single digit upper bound on the punitive damages/compensatory damages ratio, which reduced the annual number of blockbuster awards, the total annual value of blockbuster awards, and the punitive damages/compensatory damages ratio. Applying the 1:1 ratio from Exxon Shipping Co. et al. v. Baker et al. broadly would eliminate most of the blockbuster awards.
Published: W. Kip Viscusi, 2009.
"The Changing Landscape of Blockbuster Punitive Damages Awards,"
American Law and Economics Review,
Oxford University Press, vol. 12(1), pages 116-161.
citation courtesy of