We study jury trial waivers in a data set of 2,816 contracts contained as exhibits in Form 8-K filings by reporting corporations during 2002. Because these contracts are associated with events deemed material to the financial condition of SEC-reporting firms, they likely are carefully negotiated...

We analyze settlement escrows as an inexpensive method to reduce delay in pretrial bargaining. In a settlement escrow, an agent receives cash settlement offers from the parties to a lawsuit. If the defendant offers more than the plaintiff demands, the court imposes settlement at the midpoint of...

This article presents an interest-group theory of central bank independence. In the absence of an independent central bank, politicians can benefit in the short run by creating an unanticipated burst of inflation that unravels many interest-group deals. Interest groups then have to return to the...