The New Efficiency Rationale: An Internal Critique
65 Pages Posted: 23 Dec 1999
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: 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
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