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rules efficiently? Is there an optimal mix of litigation and legislation? The law is inevitably subject to a certain degree … settling disputes out of court. Conversely, the law is necessarily certain ex post: litigation fosters the creation of … system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such equilibrium …
Persistent link: https://www.econbiz.de/10005385254
and deters parties from settling disputes out of court. In contrast, the law is certain ex post: litigation fosters the … of a legal system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such … equilibrium rates in a model of tort litigation, study how they are affected by different policies, and compare the costs and …
Persistent link: https://www.econbiz.de/10010325161
and deters parties from settling disputes out of court. In contrast, the law is certain ex post: litigation fosters the … of a legal system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such … equilibrium rates in a model of tort litigation, study how they are affected by different policies, and compare the costs and …
Persistent link: https://www.econbiz.de/10011349216
and deters parties from settling disputes out of court. In contrast, the law is certain ex post: litigation fosters the … of a legal system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such … equilibrium rates in a model of tort litigation, study how they are affected by different policies, and compare the costs and …
Persistent link: https://www.econbiz.de/10005137255
and deters parties from settling disputes out of court. In contrast, the law is certain ex post: litigation fosters the … of a legal system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such … equilibrium rates in a model of tort litigation, study how they are affected by different policies, and compare the costs and …
Persistent link: https://www.econbiz.de/10011257519
We examine a dynamic model of up-or-down problem solving. A decision maker can either spend resources investigating a new problem before deciding what to do, or decide based on similarity with precedent problems. Over time, a decision making framework, or jurisprudence, develops. We focus on the...
Persistent link: https://www.econbiz.de/10010903411
The paper addresses the issue of the impact of asymmetric information on risk aversion of litigant parties in a model à la Bebchuk. First we study the case where the plaintif is the informed party, and characterize the equilibrium with and without a pretrial negociation round. Then, we focuse...
Persistent link: https://www.econbiz.de/10005789358
change by adjudication (case law development) when compared with legislation (statutory law development). The main argument … uniformity of legal rules, and as a consequence, the relative importance of adjudication and legislation. … arising from the importance given to adjudication in comparison with statute laws. It focuses on the relative costs of legal …
Persistent link: https://www.econbiz.de/10005093997
lower litigation, which in turn can shorten trial length. Free negotiation of lawyers’ fees also appears to be associated … with lower litigation. …
Persistent link: https://www.econbiz.de/10011276726
In the sphere of civil law, more specifically, in the matter of civil obligations, the notion of risk is involved for involvement in crimes or for non-contractual obligations arising out of the legal relations. Each of these types of risk are generated by nature and source of the obligation. I...
Persistent link: https://www.econbiz.de/10010747244