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by juries. Therefore, even though physicians without excess-layer liability coverage are in principle vulnerable to judgments above the standard liability insurance, this is almost never the case. Policy limits almost always limit the effect of larger jury verdicts where verdicts exceed available insurance coverage. Thus, regardless of their malpractice insurance coverage, doctors rarely make out-of-pocket payments to satisfy malpractice awards. In the rare cases in which large jury verdicts or settlements are paid out above general policy limits, these payments are almost always paid by insurers. These findings call into question policy arguments in support of the implementation of damages caps to lower liability insurance premiums and improve patient care.
192:) and âExchange Asymmetries Incorrectly Interpreted as Evidence of Endowment Effect Theory and Prospect Theoryâ (Cited 364 times, according to Google Scholar.) . While less than 10% of legal articles referencing the endowment effect theory cited to Zeiler and Plott's work in the five years following the 2005 article's publication, Zeiler and Plott's work is credited as being among the most prominent challengers to the endowment effect theory and has heavily influenced behavioralist scholarship.
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Zeiler has explored the differences between malpractice payments and jury verdicts, while also discussing the consequences of using malpractice insurance to satisfy malpractice claims. Her work indicates that malpractice awards rarely exceed primary coverage limits, regardless of the damages awarded
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Given the significance of these findings, Zeiler and Plotts' original conclusions have been met with some dispute. There had been speculations that the WTA-WTP gap may vary according to the commodity type (e.g. low-value consumption goods, high-value consumption goods, non-marketed goods, lotteries
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preferences. Their findings have notably paved the way for refined and alternative theories regarding the endowment effect, including the KĹszegi-Rabin theory of expectations-based reference points, which explains the absence of the endowment effect in relation to misconceptions about expectations
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that controls subject misconceptions, Zeiler and Plott found that the endowment effect theory is not sufficient to explain WTA-WTP gaps that are likely the result of subject misconceptions. Since Plott and Zeiler's 2005 and 2007 experiments, a new wave of research has sought to address whether the
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have examined the use of empirical field studies to study causation and policy interventions. While the strict adoption of the scientific method's "gold standard" of the randomized controlled trial can be difficult in the field of health law, Zeiler and Mello argue that fixed-effects models and
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gap seems to persist in lottery systems, even when elicitation procedures attempt to control subject misconceptions. Therefore, these critics have argued in favor of "house money" effects, rather than subject misconceptions. However, in their 2011 reply to such criticisms, Zeiler and
235:(1) asserted that lottery data is contaminated by irrational choice and distorted beliefs that promote inconsistent risks and (2) argued that other literature does not support a "house money" conjecture. Since these contributions to the field of
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The endowment effect theory has previously been called "one of the most robust findings in the psychology of decision makingâ and is used by behavioral legal scholars to explain the relationship between ownership and value. Zeiler and
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Isoni, Andrea; Loomes, Graham; Sugden, Robert (April 2011). "The
Willingness to Pay-Willingness to Accept Gap, the "Endowment Effect," Subject Misconceptions, and Experimental Procedures for Eliciting Valuations: Comment".
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with goods as prizes, lotteries with money prizes). Critics of Zeiler and Plotts' work have found that while the lack of a WTA-WTP gap has continued to be observed in low cost commodities (like mugs), the
149:. During her Fall 2010 sabbatical from Georgetown University Law Center, Zeiler participated in a senior fellowship at the Petrie-Flom Center of Health Law Policy, Biotechnology, and Bioethics at
188:: âThe Willingness to Pay-Willingness to Accept Gap, the âEndowment Effect,â Subject Misconceptions, and Experimental Procedures for Eliciting Valuations,â (Cited 1137 times, according to
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measures are not reflective of human preferences, but rather such disparities stem from encouraged experimental design practices within the field. By developing an
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Zeiler has advocated for the increased use of empiricism in health law, specifically through the utilization of data and use of the
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Joshua, Wright; Ginsburg, Douglas (2012). "Behaviors Law and
Economics: Its Origins, Fatal Flaws, and Implications for Liberty".
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Fischman, Robert; Barbash-Riley, Lydia (2018-04-01). "Empirical
Environmental Scholarship". Rochester, NY.
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Hall, Mark A.; Orentlicher, David; Bobinski, Mary Anne; Bagley, Nicholas; Cohen, I. Glenn (2018-02-26).
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difference-in-difference models can be used as tools of causal identification in health law studies.
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Luppi, Barbara; Parisi, Francesco (2016-06-01). "Optimal liability for optimistic tortfeasors".
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The Petrie-Flom Center for Health Law Policy, Biotechnology, and
Bioethics at Harvard Law School
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The Petrie-Flom Center for Health Law Policy, Biotechnology, and
Bioethics at Harvard Law School
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in
Economics from California Institute of Technology., Zeiler served as a professor of law at
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in 2015 . Zeiler also previously held several visiting professorships at
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363:"About Kathryn Zeiler | Past Senior Fellows/Associates | Petrie-Flom Center"
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93:(born June 3, 1969) is the Nancy Barton Scholar and Professor of Law at
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with a M.S. in Social
Sciences. Zeiler then received her
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University of
Southern California Gould School of Law
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University of Southern California Gould School of Law
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Google Scholar Author page, Accessed March 12, 2022
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125:with a B.S. in business;
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200:findings challenged the
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186:endowment effect theory
121:Zeiler graduated from:
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127:Golden Gate University
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55:Golden Gate University
16:American Law Professor
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214:elicitation procedure
237:behavioral economics
170:Behavioral economics
243:Medical malpractice
219:reference-dependent
111:medical malpractice
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499:has generic name (
151:Harvard Law School
123:Indiana University
51:Indiana University
650:978-1-4548-8180-3
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290:www.bu.edu
269:References
99:health law
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117:Biography
103:torts law
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