Criticism
Critics point out that term "gravity of loss (L)" is vague, and could entail a wide variety of damages, from a scratched fender to several dead victims. Even then, on top of that, how exactly a juror should determine a value for such a loss is abstract in itself. The speculative nature of the rule also seizes upon how a juror should determine the probability of loss (P).
Additionally, the rule fails to account for possible alternatives, whether it be the use of alternate methods to reach the same outcome, or abandoning the risky activity altogether.
Also noteworthy, is that merely using the formula does not guarantee efficient precaution measures. The reason for that is simple: efficiency means taking precautions up to the point where marginal utility equals marginal cost. If the formula were implemented in it's marginal sense it could guarantee an efficient outcome. However, judges don't do that, and henceforth, outcomes might not be efficient.
Read more about this topic: Calculus Of Negligence
Famous quotes containing the word criticism:
“...I wasn’t at all prepared for the avalanche of criticism that overwhelmed me. You would have thought I had murdered someone, and perhaps I had, but only to give her successor a chance to live. It was a very sad business indeed to be made to feel that my success depended solely, or at least in large part, on a head of hair.”
—Mary Pickford (1893–1979)
“The greater the decrease in the social significance of an art form, the sharper the distinction between criticism and enjoyment by the public. The conventional is uncritically enjoyed, and the truly new is criticized with aversion.”
—Walter Benjamin (1892–1940)
“Of all the cants which are canted in this canting world—though the cant of hypocrites may be the worst—the cant of criticism is the most tormenting!”
—Laurence Sterne (1713–1768)