Qiao, Yue - In: Asian Journal of Law and Economics 1 (2010) 1
In this paper we consider the effects of legal-expenses insurance on settlement. Using a one-shot asymmetric …-the-event insured, after-the-event insured or self-funded. We investigate the effects of insurance on settlement probabilities …" element of the insurance. Our results exhibit that insurance increases the plaintiff's expectation on settlement amount but …