9 Pages Posted: 5 Apr 2012 Last revised: 27 Nov 2012
Date Written: April 4, 2012
Product liability law is intended to create an environment that fosters safer products. However, this law often has adverse consequences. Some of the problems stem from the inherent nature of product risk decisions and the function of tort liability, while others may derive from individuals’ cognitive limitations and inability to think properly about balancing risk and cost. This paper examines both types of problems and summarizes relevant academic literature.
Suggested Citation: Suggested Citation
Viscusi, W. Kip, Does Product Liability Make Us Safer? (April 4, 2012). Regulation, Vol. 35, No. 1, 2012; Vanderbilt Public Law Research Paper No. 12-20. Available at SSRN: https://ssrn.com/abstract=2034546