Garcia, Alfredo; Reitzes, James; Benavides, Juan - In: Journal of Regulatory Economics 27 (2005) 1, pp. 5-24
for private firms, may result in excessive litigation over contract terms. This result is possible because we assume that … parties in litigation can influence (by purchasing better or more legal services) the observable merits of their case. In weak … institutional settings, governments have an inherent disadvantage in these litigation contests. We show that a commitment to a …