of the costs of pursuing the punitive claim), which promotes unnecessary litigation, the escalation of liability … insurance premiums and over-deterrence. In an attempt to overcome these negative effects, several US states have implemented … the state. Our paper presents a strategic model of litigation under a negligence rule. We extend Spier's (1997 …

promotes unnecessary litigation (Dodson, 2000), the escalation of liability insurance premiums and over-deterrence. In an … strategic model of liability and litigation that incorporates agency problems between the plaintiff and its attorney and court … deterrence and litigation outcomes and find a predictability threshold beyond which the deterrence effect of punitive awards …

In an attempt to reduce the liability insurance costs of firms, several US states have implemented many different kinds … that reforms that reduce the firm's expected litigation loss also affect the firm's expenditures on accident prevention … on liability and litigation and extends it in a number of ways. First, we incorporate the split-award statute into the …

, plaintiffs are more willing to accept lower settlement offers and therefore, the firm's expected litigation loss is lowered under …In an attempt to reduce the liability insurance costs of firms, several US states have implemented many different kinds … this statute. It is important to note, however, that the reduction in the firm's expected litigation loss will affect its …

insurance where contingent fees are absent; and (v) the American practice usually incurs less legal expenditures than the …

We consider a model of bargaining by concessions where agents can terminate negotiations by accepting the settlement of … are not aligned since agents sometimes reach negotiated agreements when an arbitrated settlement is more efficient and …