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Trial and Settlement : A Study of High-Low Agreements
Prescott, J.J. - 2014
This paper presents the first systematic theoretical and empirical study of high-low agreements in civil litigation. A high-low agreement is a private contract that, if signed by litigants before the conclusion of a trial, constrains any plaintiff recovery to a specified range. Whereas existing...
Persistent link: https://www.econbiz.de/10013057416
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The Litigious Plaintiff Hypothesis : Case Selection and Resolution
Eisenberg, Theodore; Farber, Henry S. - 2021
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/10013224186
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Decoupling Liability : Optimal Incentives for Care and Litigation
Polinsky, A. Mitchell; Che, Yeon-Koo - 2021
A "decoupled" liability system is one in which the award to the plaintiff differs from the payment by the defendant …
Persistent link: https://www.econbiz.de/10013224692
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A Note on Optimal Public Enforcement with Settlements and Litigation Costs
Polinsky, A. Mitchell; Rubinfeld, Daniel L. - 2021
This note reexamines the theory of optimal public enforcement when litigation costs are incurred if the defendant is prosecuted at trial, and when an out-of-court settlement is possible. Using a numerical example, it is shown that settlements and litigation costs can substantially alter the...
Persistent link: https://www.econbiz.de/10013233764
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The Welfare Implications of Costly Litigation in the Theory of Liability
Polinsky, A. Mitchell; Rubinfeld, Daniel L. - 2022
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 shown that strict liability with compensatory damages generally leads to …
Persistent link: https://www.econbiz.de/10013309589
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Medical Malpractice : an Empirical Examination of the Litigation Process
Farber, Henry S.; White, Michelle J. - 2021
quality of medical care is an extremely important determinant of deferdants' medical malpractice liability. More generally, we …
Persistent link: https://www.econbiz.de/10013227888
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Urbanization in the United States, 1800-2000
Boustan, Leah Platt - 2013
hundred year history. We show that the urban wage premium in the US was remarkably stable over the past two centuries, ranging …
Persistent link: https://www.econbiz.de/10013082149
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Technical Change and the Relative Demand for Skilled Labor : The United States in Historical Perspective
Katz, Lawrence F. - 2013
This paper examines shifts over time in the relative demand for skilled labor in the United States. Although de-skilling in the conventional sense did occur overall in nineteenth century manufacturing, a more nuanced picture is that occupations "hollowed out": the share of "middle-skill" jobs -...
Persistent link: https://www.econbiz.de/10013087448
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Task Specialization in U.S. Cities from 1880-2000
Michaels, Guy - 2013
We develop a new methodology for quantifying the tasks undertaken within occupations using over 3,000 verbs from more than 12,000 occupational descriptions in the Dictionary of Occupational Titles (DOTs). Using micro-data from the United States from 1880-2000, we find an increase in the...
Persistent link: https://www.econbiz.de/10013088397
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The History of Annuities in the United States
Poterba, James M. - 2002
This paper summarizes the development of private annuity markets in the United States. Annuities constituted a small share of the U.S. insurance market until the 1930s, when two developments contributed to their growth. First, concerns about the stability of the financial system drove investors...
Persistent link: https://www.econbiz.de/10012787497