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Explaining the Flood of Asbestos Litigation : Consolidation, Bifurcation, and Bouquet Trials

White, Michelle J. - 2002

The number of asbestos personal injury claims filed each year is in the hundreds of thousands and has been increasing … rather than decreasing over time, even though asbestos stopped being used in the early 1970's. Eighty firms have filed for … bankruptcy due to asbestos liabilities including 30 filings since the beginning of 2000. This paper examines why asbestos claims …

Persistent link: https://www.econbiz.de/10012469341

The Government as Litigant : Further Tests of the Case Selection Model

Eisenberg, Theodore - 1999

We develop a model of the plaintiff's decision to file a law suit that has implications for how differences between the federal government and private litigants and litigation translate into differences in trial rates and plaintiff win rates at trial. Our case selection model generates a set of...

Persistent link: https://www.econbiz.de/10012471488

The Welfare Implications of Costly Litigation in the Theory of Liability

Polinsky, A. Mitchell - 1986

One of the principal results in the economic theory of liability is that, assuming litigation is costless, the rule of strict liability with compensatory damages leads the injurer to choose the socially appropriate level of care. This paper reexamines this result when litigation is costly. It is...

Persistent link: https://www.econbiz.de/10012477242

Suit and Settlement vs. Trial : A Theoretical Analysis under Alternative Methods for the Allocation of Legal Costs

Shavell, Steven - 1981

Will a party who believes that he has a legally admissible claim for money damages decide to bring suit? if so, will he subsequently settle with the opposing party or will he go ahead to trial? These questions are analyzed under four methods for allocating legal costs, namely, under the American...

Persistent link: https://www.econbiz.de/10012478459

Information and Externalities in Sequential Litigation

Hua, Xinyu - 2004

The information created and disseminated through the litigation process can have social value. Suppose a long-lived plaintiff is suing a defendant for damages sustained in an accident. The plaintiff may suffer similar damages in future accidents involving different defendants. Potential injurers...

Persistent link: https://www.econbiz.de/10012467744

Empirical Study of the Civil Justice System

Kessler, Daniel P. - 2004

In this essay, we discuss empirical research on the economic effects of the civil justice system. We discuss research on the effects of three substantive bodies of law- contracts, torts, and property- and research on the effects of the litigation process. We begin with a review of studies of...

Persistent link: https://www.econbiz.de/10012467864

The Appeals Process and Adjudicator Incentives

Shavell, Steven - 2004

The appeals process -- whereby litigants can have decisions of adjudicators reviewed by a higher authority -- is a general feature of formal legal systems (and of many private decisionmaking procedures). It leads to the making of better decisions, because it constitutes a threat to adjudicators...

Persistent link: https://www.econbiz.de/10012467936

Economic Analysis of Litigation and the Legal Process

Shavell, Steven - 2003

This paper contains the chapters on litigation and the legal process from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, 2003). In chapter 17, I consider the basic theory of litigation. Here I describe the three phases of litigation: its...

Persistent link: https://www.econbiz.de/10012469001

The Litigious Plaintiff Hypothesis : Case Selection and Resolution

Eisenberg, Theodore - 1996

A central feature of the litigation process that affects case outcomes is the selection of cases for litigation. In this study, we present a theoretical framework for understanding the operation of this suit selection process and its relationship to the underlying distribution of potential...

Persistent link: https://www.econbiz.de/10012473193

The Selection Hypothesis and the Relationship between Trial and Plaintiff Victory

Waldfogel, Joel - 1993

The selection hypothesis of Priest and Klein explains the selection of cases for trial, from the underlying population of filed cases, based on the position of the legal standard, the degree of stake asymmetry, and the predictability of trial outcomes. This paper develops implications of the...

Persistent link: https://www.econbiz.de/10012474437

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