and deters parties from settling disputes out of court. In contrast, the law is certain ex post: litigation fosters the … of a legal system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such … equilibrium rates in a model of tort litigation, study how they are affected by different policies, and compare the costs and …

We analyze the extent to which private defensive litigation insurance deters patent assertion by non …-practicing entities (NPEs). We study the effect that a patent-specific defensive insurance product, offered by a leading litigation … defensive litigation insurance on the behavior of patent enforcers and accused infringers. We show that the availability of …

feature of optimal insurance contracts because they relieve litigation-related risks and result in lower premiums — financed …The theory of insurance is considered here when an insured individual may be able to sue another party for the losses … that the insured suffered — and thus when an insured has a potential source of compensation in addition to insurance …

services provided by third-party investors, including litigation funders and insurance companies. The two litigants (weakly … contracting decreases the settlement rate and increases the volume and costs of litigation. These contingent contracts mimic the … costs of litigation, and may increase the aggregate cost of risk bearing. In this sense, third-party involvement in …

-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential … injurers (because they may have to pay judgments to victims). In this regard, victims' accident insurance and injurers …' liability insurance are taken into account. The third general aspect of accident liability is its administrative expense …