A settlement is an agreement between parties to a dispute. In everyday parlance and in academic scholarship, settlement … winner and announces a score. The “trial versus settlement” trope, however, represents a false choice; viewing settlement … and often does work. In this article, we describe and defend a much richer concept of settlement, amounting in effect to a …

contracting decreases the settlement rate and increases the volume and costs of litigation. These contingent contracts mimic the … services provided by third-party investors, including litigation funders and insurance companies. The two litigants (weakly … transaction-cost free. However, contracting with third parties further decreases the settlement rate, increases the volume and …

We consider a model of a single defendant and N plaintiffs where the total cost of litigation is fixed on the part of …-it-or-leave-it settlement offers, we can show that they will actually be exploited by one of their fellow plaintiffs rather than by the … defendant. Moreover, if litigation is a public good as is the case in shareholder derivative suits, parties may fail to reach a …