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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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Are Settlements in Patent Litigation Collusive? Evidence from Paragraph IV Challenges
Helland, Eric - 2016
The use of “pay-for-delay” settlements in patent litigation – in which a branded manufacturer and generic entrant settle a Paragraph IV patent challenge and agree to forestall entry – has come under considerable scrutiny in recent years. Critics argue that these settlements are collusive...
Persistent link: https://www.econbiz.de/10012993248
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Reconciling Asymmetric Information and Divergent Expectations Theories of Litigation
Waldfogel, Joel - 2021
Both asymmetric information (AI) and divergent expectations (DE) theories offer possible explanations of the litigation puzzle. Under DE, cases proceed to trial when, by chance, the plaintiff is more optimistic than the defendant. As the fraction of cases tried (T) declines, this leads to a...
Persistent link: https://www.econbiz.de/10013220528
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Economic Analysis of Litigation and the Legal Process
Shavell, Steven - 2021
Economic Analysis of Law (Harvard University Press, 2003). In chapter 17, I consider the basic theory of litigation. Here I … chapter 18, I extend the basic theory of litigation, examining among other issues the bringing of negative value suits …, in chapter 19, I discuss several general aspects of the legal process not considered in the basic theory and its …
Persistent link: https://www.econbiz.de/10013221080
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The Government as Litigant : Further Tests of the Case Selection Model
Eisenberg, Theodore; Farber, Henry S. - 2021
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/10013224180
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The Litigious Plaintiff Hypothesis : Case Selection and Resolution
Eisenberg, Theodore; Farber, Henry S. - 2021
results that are generally consistent with the theory. Lawsuits where the plaintiff is an individual are found to have higher …
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. The optimal system of decoupling makes the defendant's payment as high as possible. Such a policy allows the award to the plaintiff to be lowered, thereby reducing the plaintiff's...
Persistent link: https://www.econbiz.de/10013224692
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Information and Externalities in Sequential Litigation
Hua, Xinyu; Spier, Kathryn E. - 2021
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/10013226203
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Suit and Settlement vs. Trial : A Theoretical Analysis Under Alternative Methods for the Allocation of Legal Costs
Shavell, Steven - 2021
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/10013231599
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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 …
Persistent link: https://www.econbiz.de/10013233764