Tort Law Reforms Could Reduce Accident Costs, Protect Victims
The article discusses how tort law, which deals with accidental injuries, can be analyzed from an economic perspective. The main goal is to understand how tort law can compensate victims and prevent dangerous behavior. The researchers focus on minimizing the overall costs of accidents by assigning liability in a way that encourages individuals to take precautions. They argue that efficient rules should define negligent behavior as inefficient and hold individuals accountable for their actions. Additionally, the article briefly touches on product liability under tort law from an economic viewpoint.
