This paper analyses the problem of court congestion. We focus on how individual's decision whether to commit an illegal act and victim's decision whether to bring a suit are influenced by the presence of court congestion. We show that the standard results of the perception models may be totally...

This paper develops a principal-agent model of the firm in which shareholders give an incentive contract to a manager to limit the socially costly extraction of private benefits, and to induce truthful revelation of the manager's type. We assume a type-dependent reservation utility. More...

This note develops a dynamic model of crime that determines the conditions under which it is optimal for a criminal to delay commission of a crime rather than committing it immediately. It also examines the optimal enforcement strategy in this context. We derive two results. The first is that it...

This paper introduces ambiguity into an otherwise standard litigation model. The aim is to take into account optimism and confidence on the plaintiff side. We examine the following questions : 1) How optimism and confidence affect the outcomes of the settlement stage? 2) How optimism and...

This note develops a dynamic model of crime that determines the conditions under which it is optimal for a criminal to delay commission of a crime rather than committing it immediately. It also examines the optimal enforcement strategy in this context. We derive two results. The first is that it...