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Fundamentals of Multi-Party or Collective Litigation
Andrews, Neil H. - 2014
Fundamental choices are to be made when fashioning a system or combination of systems concerning multi-party and collective relief (see section II of this article). These include:economic access to justice (section III), opt-out 'class' litigation (notably the status of `representatives' suing...
Persistent link: https://www.econbiz.de/10013058392
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Private Enforcement and EU Market Abuse Regulation : A Discussion on Direct (Class) Actions and Derivative Actions
Zouridakis, Georgios; Papadopoulos, Thomas - 2023
Within the past decade, the EU has made significant steps in strengthening and harmonising the legal framework of capital markets. Despite passing and amending secondary legislation on this topic, it only partially addressed the issue of enforcement, leaving private enforcement an issue for its...
Persistent link: https://www.econbiz.de/10014261793
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Incentive Effects of Class Actions and Punitive Damages Under Alternative Procedural Regimes
Cenini, Marta - 2010
In an economic perspective, punitive damages and class actions can be viewed as sharing a common economic function – creating optimal deterrence. Building on Parisi and Cenini (2010), we study the effect of alternative procedural regimes on the effectiveness of punitive damages and class...
Persistent link: https://www.econbiz.de/10013138272
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Rules of Proof, Courts, and Incentives
Demougin, Dominique; Fluet, Claude - 2009
We analyze the design of legal principles and procedures for court decision-making in civil litigation. The objective is the provision of appropriate incentives for potential tort-feasors to exert care, when evidence about care is imperfect and may be distorted by the parties. Efficiency is...
Persistent link: https://www.econbiz.de/10014055375
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Economic Analysis of Litigation and the Legal Process
Shavell, Steven - 2003
Economic Analysis of Law (Harvard University Press, 2003). In chapter 17, I consider the basic theory of litigation. Here I … chapter 18, I extend the basic theory of litigation, examining among other issues the bringing of negative value suits …, in chapter 19, I discuss several general aspects of the legal process not considered in the basic theory and its …
Persistent link: https://www.econbiz.de/10014088915
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Jackpot justice : the value of inefficient litigation
Zhou, Jun - 2010
Litigation seems to be a Pareto-ineffcient outcome of pretrial bargaining; however, this paper shows that litigation can be the outcome of rational behavior by a litigant and her attorney. If the attorney has more information than his client concerning the characteristics of the lawsuit, the...
Persistent link: https://www.econbiz.de/10008823162
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Fee Shifting in Litigation : Survey and Assessment
Katz, Avery W. - 2010
Should the party who loses in litigation be forced to pay the legal fees of the winner? This paper surveys the economic literature regarding the effects of legal fee shifting on a variety of decisions arising before and during the litigation process. Section 2 provides a brief survey of the...
Persistent link: https://www.econbiz.de/10013135735
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The Economics of Third-Party Financed Litigation
Hylton, Keith N. - 2011
This paper examines the law and economics of third-party financed litigation. I explore the conditions under which a system of third-party financiers and litigators can enhance social welfare, and the conditions under which it is likely to reduce social welfare. Among the applications I consider...
Persistent link: https://www.econbiz.de/10013117592
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Class Action
Bone, Robert G. - 2011
This essay on the class action will be a chapter in the Procedural Law and Economics volume forthcoming from Edward Elgar. It reviews the law-and-economics literature on the class action, current as of 2008 (when I wrote the chapter). It discusses the benefits of large claim and small claim...
Persistent link: https://www.econbiz.de/10013125038
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Incentives for Care, Litigation, and Tort Reform under Self-Serving Bias
Landeo, Claudia M. - 2012
This chapter presents a strategic model of incentives for care and litigation under asymmetric information and self-serving bias, and studies the effects of damage caps. Our main findings are as follows. First, our results suggest that the defendant's bias decreases his expenditures on accident...
Persistent link: https://www.econbiz.de/10013099050