Dr. Becker, of the University of Chicago, wrote a very interesting blog post about how information asymmetry should be at the basis of tort law reform:

The old rule of caveat emptor, or buyer beware, is too rigid in a world where buyers of products, or of medical and other services, may be much less informed about possible risks than are the producers or doctors who provide them.

You can read the rest here: http://www.becker-posner-blog.com/archives/2007/04/improving_the_t.html