In this paper, we study how the uncertainty in the behavior of judges provides parents going to separate with incentives to cooperate. We introduce a model of cooperative bargaining to describe the behavior of parents whose preferences satisfy the characterization of risk averse/pessimistic...

Parties engaged in a litigation generally enter the discovery process with different informations regarding their case and/or an unequal endowment in terms of skill and ability to predict the outcome at trial. This results in different legal costs to assess the plaintiff's win rate. The paper...

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In this paper, the unilateral divorce law is modelled through the combination of exclusive rights on the marriage dissolution and alternative compensation rules benefiting to the parent having custody of the children. Their influence are studied both in the short run (probability and efficiency...

By means of minimal assumptions on the individual preferences, I show that the Willingness To Pay (WTP) for both a FSD and SSD reduction of risk is the sum of a mean effect, a pure risk effect and a wealth effect. As a result, the WTP of a risk-averse decision maker may be lower than the WTP of...