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This essay will define Alternative Dispute Resolution (ADR), identify the types and examples, examine the advantages and disadvantages, look at the current role within the English civil Justice System and use that as guide to draw conclusion about the desirability for increased role. Relevant...
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The purpose of this chapter is to survey the academic literature on the economics of litigation and to synthesize its main themes. The chapter begins by introducing the basic economic framework for studying litigation and out-of-court settlement. One set of issues addressed is positive (or...
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settlement, a theory flowing from the Coase Theorem. The cost-benefit analysis weighs settlement against the expected value of … economics to construct a pricing theory of legal disputes. In addition to probability and transaction cost, dispute risk must …
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This paper studies how litigation and settlement behavior is affected by agents motivated by spiteful preferences under the American and the English fee-shifting rule. We conduct an experiment and find that litigation expenditures and settlement requests are higher for more spiteful...
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