Legal institutions play an important role in affecting delay in settlement. But little research has investigated the institutional causes of delay. The empirical literature is ambiguous regarding the impact of trial-court delay on settlement delay. I analyze the timing of bargaining and the...

Litigation seems to be a Pareto-ineffcient outcome of pretrial bargaining; however, this paper shows that litigation can be the outcome of rational behavior by a litigant and her attorney. If the attorney has more information than his client concerning the characteristics of the lawsuit, the...

Colluding firms often exchange private information and make transfers within the cartels based on the information. Estimating the impact of such collusive practices" - known as the 'lysine strategy profile (LSP)" - on cartel duration is difficult because of endogeneity and omitted variable bias....

We investigate the relationship between access to credit and wealth accumulation. Empirical results suggest an asymmetric heterogeneity over the whole range of wealth distribution. There is a significantly negative relationship between household debt and wealth accumulation for poor households...

Preventing systemic risk from the perspective of bank risk accumulation has been widely researched and supported. This study focuses on the impact of economic volatility on bank risk accumulation and systemic risk. Using the proportion of non-core liabilities as the bank's risk accumulation...