Law Amid Flux: The Economics of Negligence and Strict Liability in Tort

Mario Rizzo, Department of Economics

Abstract

This is an early critique of the Landes-Posner economic anlysis of tort law. The article emphasizes the knowledge problems in determining what, in fact, is efficient law. It also argues for the superior institutional efficiency of Epstein system of strict liabilty presisely in a world of economic change.