Punitive Damages

Punitive Damages serve as an alternative to criminal liability. The existence or absence of malice can predict when courts will award punitive damages. A person's or corporation's wealth is becoming an increasingly acceptable criteria for measuring punitive damages, on the ground that they would not be adequately deterred by regular damages. On the other hand, if one tortfeasor collects large punitive damages, future plaintiffs may be less likely to collect if the defendant is insolvent.

[BMW v Gore]: large punitive damages awarded for a small-scale commercial fraud (painting over used cars) violates due process

The Exxon Valdez case was the first to assess damages for "existence value," that is, for the lost value from the existence of now-destroyed wildlife. (Contingent valuation can of course be difficult to measure.)