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least-cost avoider

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1 results

2 - Tort Law
Shawn Bayern, Florida State University
Book:

The Analytical Failures of Law and Economics

Published online:

14 September 2023

Print publication:

28 September 2023, pp 25-83
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Summary

This chapter develops and critiques the major economic arguments in tort law, focusing mostly on the model of bilateral precaution, which attempts to analyze the foundational choice between negligence and strict liability. It also responds to “least-cost avoider” arguments and shows how little progress economic thinking has made in understanding most of tort law. The commonplace conclusion that tort law has easily succumbed to the law-and-economics movement is incorrect.