This article develops a simple model using the economist's toolkit to analyze the mechanism of judicial proof. The survey focuses on the notions of burden of proof, legal presumptions, standard of proof, on legal procedure and on the judge's role during the proceedings. The rules of proof are...

Two firms produce a good with a horizontal and a vertical characteristic called quality. The difference in the unobservable quality levels determines how the firms share the market. We consider two scenarios: in the first one, firms disclose quality; in the second one, they send costly signals...

Can debt rescheduling decisions differ in multiple lenders' versus a single lender loan? Do multiple lenders efficiently react to information? We show that the precision of information plays an essential role. Foreclosing by one lender is disruptive so that a lender can rationally wait for the...