their choices of law clerks: these two features make the federal court system a unique environment in which to study the …

of public officials, using new data on state court judge elections in 39 states in the U.S. from 1990 to 2010. We find …

While the focus of mainstream economic analysis of liability rules remains on negligence liability, recently some legal … scholars have argued for the sharing of liability. In this paper, our first objective is contribute to the debate regarding the … desirability of the sharing of liability for the accident loss. To this end, we study the implications of various approaches toward …

the issue of employer liability for injury claims. We develop a sequential asymmetric information model of liability … when workers differ in their costs of pursuing a injury claim, employers have an incentive to deny liability and force … more likely to fight back when liability is denied. Estimates of the structural model confirm that the decision rules of …

third parties -- the tort victims. Taking the level of borrowing as fixed, the entrepreneur finances the activity with … senior (secured) debt in order to shield assets from the tort victims in bankruptcy. Interestingly, senior debt serves the … victims priority over senior debtholders in bankruptcy prevents over-leveraging but leads to suboptimal incentives. Lender …