Expected Loss Balance of Probability Theorem
Posted: 13 Jun 2007 Last revised: 26 Jan 2011
Date Written: Summer 2007
Abstract
This paper shows how for every Contingent Loss whose associated probability fails the Balance of Probability test, there is a corresponding Expected Loss whose probability passes the Balance of Probability test and so constitutes a preferable head of damage for a civil claim. Recent English Mesothelioma and Asbestos-related judgements including Gregg v Scott 2005, Fairchild v Glenhaven 2002 and Barker v Corus 2006 are considered in the light of this theorem.
Keywords: Balance of Probability, Expected Loss, Standard of Proof, Negligence, Mesothelioma, Asbestos, Loss of Chance
JEL Classification: C12, C13, K13, K41
Suggested Citation: Suggested Citation