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The standard model of optimal deterrence predicts that the probability of wrongful conviction of the innocent is, at the margin, as detrimental to deterrence as the wrongful acquittal of guilty individuals. We extend the model in several directions: using expected utility as well as nonexpected...
Persistent link: https://www.econbiz.de/10010552859
The standard model of optimal deterrence predicts that the probability of wrongful conviction of the innocent is, at the margin, as detrimental to deterrence as the probability of wrongful acquittal of guilty individuals. We extend the model in several directions: using expected utility as well...
Persistent link: https://www.econbiz.de/10010897151
Arbitration, as an alternative to litigation for contract disputes, reduces costs and time. While it has frequently … privately while engaged in the arbitration process. Consequently, the institutional design of the arbitration may influence the … bargaining. We develop a theoretical model of pre-arbitration bargaining that is able to identify the impact of the institutional …
Persistent link: https://www.econbiz.de/10010757684
example of this context is the international commercial arbitration. The great increase of the international trade and … companies investment in foreign countries is associated with the tendency to transform the international commercial arbitration … the main features of international commercial arbitration will be presented a comparative overview between international …
Persistent link: https://www.econbiz.de/10010739849
Arbitration is an alternative jurisdiction to state justice, characterized by privacy. As part of managing this type of …
Persistent link: https://www.econbiz.de/10010742501
This article focuses on compulsory non-binding ADR when third parties have reputation concerns that make them dislike their decision be rejected by the adversary parties who in this event decide to insist on a court verdict. The third party is assumed to trade-off deviations from her favored...
Persistent link: https://www.econbiz.de/10010710601
To the degree that arbitration might be considered in the law and economics literature it is typically treated as a … procedural choice for resolution of a contract disputes, and it clearly is true that arbitration may be chosen for any of a …
Persistent link: https://www.econbiz.de/10005627210
significantly performed in the United States. The contract also contained an arbitration clause, requiring that any disputes be … resolved using Sharia law as implemented through an arbitration panel. When a dispute over the ownership of funds arose … court refused to take up the matter, and effectively upheld the arbitration clause. This paper explores the increasing use …
Persistent link: https://www.econbiz.de/10011205513
A general rule of international trade arbitration is that all the parties have to prove their affirmations. Moreover …, it is a consecrated right of the arbitral tribunal to ask for any other evidence in a determined period of time. The … regulations referring to the administration of evidence stipulate that these should remain at the discretion of the arbitral …
Persistent link: https://www.econbiz.de/10011105887
This study examines the trading behavior of a large sample of individual (retail) investors around securities litigation events. We test the hypothesis that the response of these investors around the end of the litigation class period (at the time of a corrective disclosure) and the start of the...
Persistent link: https://www.econbiz.de/10012721760