This chapter presents a strategic model of incentives for care and litigation under asymmetric information and self-serving bias, and studies the effects of damage caps. Our main findings are as follows. First, our results suggest that the defendant's bias decreases his expenditures on accident...

Today, binding arbitration procedures are employed in a wider variety of contracts than at any time in our nation's history, and arbitration has become a wide-ranging surrogate for court trial of civil disputes. As a result, arbitration is subjected to unprecedented stresses and strains, and it...

In tort litigation, delayed settlement or impasse imposes high costs on the parties and society. Litigation institutions might influence social welfare by affecting the likelihood of out-of-court settlement and the potential injurers' investment in product safety. An appropriate design of...

When someone becomes involuntarily unemployed, they typically lose not only income and wealth but also psychological well-being as a result of the experience of being unemployed. This paper proposes that when a plaintiff proves that a defendant's illegal action caused the plaintiff to be...

As Bill Clinton’s campaign strategist James Carville famously phrased it back in 1992, the key issue for voters... “It’s the economy, stupid.”Something similar could be said for high value strategic cases in global commercial litigation, international arbitration and competition today,...

Multi-party litigation refers to different legal mechanisms that facilitate groups of litigants with similar causes of action to bring consolidated legal claims to court. The rise of collective action regimes around the world reflects a trend in civil litigation which offers an alternative to...

In the midst of globalization and liberalization fever, the people are grooming with wide-range of information even before the age of majority. However, the Indian Contract Act envisages that the minors are incompetent to hold any form of contracts. This paper is concern only with minor in...

This article is part of a larger study of the recurrent dilemmas that arise when protective labor law conflicts with the norms of capitalist legality. In this particular case, shareholder liability for unpaid workers' wages was first enacted in mid-nineteenth century New York State as a...

The green building market continues to grow, but so do the corresponding legal risks which are only now being explored by scholars and practitioners. Lurking in the shadows behind any green building risk management strategy is how consequential damages should be allocated among the project...