Robert Cooter talks about the liability for accidents in torts and contracts and shares the work of his recent book Getting Incentives Right as well as new material to extend the content of the book. Cooter addresses the topic of efficient precaution for accidents and the measurements of liability, which are compensation and disgorgement. He speaks about compensation and disgorgement's efficient implementations along with various numerical examples. He finishes by describing the advantages of disgorgement damages for accidents with several examples about the victim's incentives, over or under deterrance and positive externalities.