This paper analyzes how the adversarial and inquisitorial evidence collection procedures affect financial development …. In investigating the true returns of insolvent entrepreneurs, the adversarial procedure relies on lawyers whereas the … inquisitorial procedure relies on judges. Investors are willing to lend more in adversarial than in inquisitorial legal systems if …

An arbiter can decide a case on the basis of his priors, or the two parties to the conflict may present further … evidence. The parties may misrepresent evidence in their favor at a cost. At equilibrium the two parties never testify together … party testifies. We compare this outcome under a purely adversarial procedure with the outcome under a purely inquisitorial …

This paper analyzes how the adversarial and inquisitorial evidence collection procedures affect financial development …. In investigating the true returns of insolvent entrepreneurs, the adversarial procedure relies on lawyers whereas the … inquisitorial procedure relies on judges. Investors are willing to lend more in adversarial than in inquisitorial legal systems if …

A decision-maker relies on information of parties affected by her decision. These parties try to influence her decision … by selective disclosure of facts. As is well known from the literature, competition between the informed parties … parties trade off their reporting cost against the effect on the decision. Typically, they never reveal all information. A …

An arbiter can decide a case on the basis of his priors, or the two parties to the conflict may present further … evidence. The parties may misrepresent evidence in their favor at a cost. At equilibrium the two parties never testify together … party testifies. We compare this outcome under a purely adversarial procedure with the outcome under a purely inquisitorial …

An arbiter can decide a case on the basis of his priors or he can ask for further evidence from the two parties to the … conflict. The parties may misrepresent evidence in their favour at a cost. The arbiter is concerned about accuracy and low … procedural costs. When both parties testify, each of them distorts the evidence less than when they testify alone. When the fixed …

An arbiter can decide a case on the basis of his priors, or the two parties to the conflict may present further … evidence. The parties may misrepresent evidence in their favor at a cost. At equilibrium the two parties never testify together … party testifies. We compare this outcome under a purely adversarial procedure with the outcome under a purely inquisitorial …

An arbiter can decide a case on the basis of his priors or he can ask for further evidence from the two parties to the … conflict. The parties may misrepresent evidence in their favour at a cost. The arbiter is concerned about accuracy and low … procedural costs. When both parties testify, each of them distorts the evidence less than when they testify alone. When the fixed …

An arbiter can decide a case on the basis of his priors or he can ask for further evidence from the two parties to the … conflict. The parties may misrepresent evidence in their favor at a cost. The arbiter is concerned about accuracy and low … procedural costs. When both parties testify, each of them distorts the evidence less than when they testify alone. When the fixed …

imperfect and may be distorted by the parties. Efficiency is shown to be consistent with courts adjudicating on the basis of the …