Many partnership contracts (and other joint-venture agreements) include so-called "Texas Shootout Clausesʺ to govern future breakups. In a Texas Shootout, one partner names a single buy-sell price and the other partner has the option to buy or sell at that price. While the prior literature has...

The information that is created and disseminated through the litigation process can have social value. When economic agents learn about risks, they can fine-tune their future behaviors to mitigate these risks. Specifically, suppose that an injured plaintiff sues a defendant for damages sustained...

This paper investigates whether manufacturers should be liable if consumers, through the use of a product, cause harm to others. If consumers have deep pockets then consumeronly liability is socially desirable. With consumer insolvency, however, consumer-only liability leads to inadequate...