In the wake of scandals involving lead toys, toxic toothpaste, poisonous pet food, and other dangerous products in recent years, policymakers have proposed a variety of strategies that purport to address safety concerns. Though many of these proposals would have salutary effects on consumer...

In this chapter we consider how models of imperfect competition, developed by scholars working in industrial organization, provide insight into an important area of law: products liability (that is, liability for harms and losses associated with goods and services sold via markets). Remarkably,...