Eastern Economic Journal

FIGURE 3

FROM:

An Economic Analysis of Libel Law

Manoj Dalvi and James F Refalo

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Figure 3.

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Actions of the newspaper under strict liability. The figure summarizes the optimal actions of the newspaper regarding a story with a probability (p) of being true under a strict liability standard. The newspaper's action is determined by the relationship of p to the probability bounds p s' and p s". No investigation occurs for C>C s".

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