Under risk neutrality, only the best-performing agent receives an extra premium if the liability constraint becomes binding.
"What's left," he added tartly, "is liability and constraints on stock transactions, neither of which excite me".
Doctors inclined to fill out prescriptions for storm victims are hampered by the constraints of liability, she said.
And for investors with long liability horizons and less constraints, an even higher allocation could be appropriate.
If the court accepted this argument and declined to apply the eCommerce Directive, the case could turn on other legal constraints on intermediary liability –in particular, the Article 10 limits that the MTE court said are mandatory under the Convention.
There will be lawsuits, and new legal precedents will probably emerge, but it seems unlikely that liability will be a binding constraint on autonomous vehicles.
These restrictions include limited liability, possible forms of an "outrage constraint", and the "million dollar tax cap" of the Internal Revenue Code, Section 162(m).
Longer-term, there are constraints like huge unfunded liabilities, making the situation that much more difficult.
Our faculty develop new methodologies that handle important and practically relevant aspects of emerging complex business environments and its market participants, e.g. the role of budget constraints, externalities, impact of networks, limited liability, simultaneous and sequential market-clearing, etc.
