In this paper, theoretical rationales of extended producer responsibility （EPR） policies were discussed through a review of major literature. We classified extended producer responsibilities into six categories and examined the rationale for each type of responsibilities from the view point of efficiency. We also considered the relationship between extended producer responsibility and the polluter pays principle （PPP）, equity and a segmented society. As a result, we found various reasons for each type of responsibility and indicated that they were complementary to each other. Although it was possible to build an EPR policy based on one appropriate type of producer’s responsibilities under certain conditions, EPR policies were considered to be more effective when established based on both financial and physical responsibilities. It was also considered important to combine them appropriately with informative responsibility.