The New Efficiency Rationale: An Internal Critique

65 Pages Posted: 23 Dec 1999

See all articles by Chris William Sanchirico

Chris William Sanchirico

University of Pennsylvania Carey Law School; University of Pennsylvania Wharton School - Business Economics and Public Policy Department

Date Written: July 2001

Abstract

One of the most important developments in law and economics over the last decade has been the emergence and rapid acceptance of a new type of justification for the field's long-time practice of evaluating legal rules solely on the basis of the efficiency criterion. This Article challenges these new arguments. It contends that these arguments are alternatively logically flawed or reliant on untenable assumptions. The article concludes that law and economics' exclusive focus on efficiency continues to lack justification even within the limited purview of modern economic reasoning.

Suggested Citation

Sanchirico, Chris William, The New Efficiency Rationale: An Internal Critique (July 2001). University of Virginia School of Law, Legal Studies Working Paper No. 00-5, Available at SSRN: https://ssrn.com/abstract=198912 or http://dx.doi.org/10.2139/ssrn.198912

Chris William Sanchirico (Contact Author)

University of Pennsylvania Carey Law School ( email )

3501 Sansom Street
Philadelphia, PA 19104
United States
215-898-4220 (Phone)

HOME PAGE: http://www.law.upenn.edu/faculty/csanchir/

University of Pennsylvania Wharton School - Business Economics and Public Policy Department

3641 Locust Walk
Philadelphia, PA 19104-6372
United States

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