Parties engaged in a litigation generally enter the discovery process with different informations regarding their case …

rely on the attorney's recommendation. We show that under contingent fees there will generally be excessive litigation. In … contrast, an hourly fee implements the efficient amount of litigation. …

rely on the attorney’s recommendation. We show that under contingent fees there will generally be excessive litigation. In … contrast, an hourly fee implements the efficient amount of litigation. …

A principal can bring litigation against an agent for overstating the realized production costs. The lawsuit functions … the ability of the principal to commit to a litigation strategy comprised of a frequency of and expenditure in litigation …. While higher awards increase the agent's expected punishment for shirking, they also encourage excessive litigation …

randomization through litigation. We contrast the rate of technological progress under the optimal allocation with the outcome if …

then consider the effect of allowing preemptive settlement offers by the defendant aimed at discouraging follow-on suits …. Preemptive settlement results in a "gold rush" of cases into the first period. In general, plaintiffs (ex ante) strictly prefer … settlement. Finally, we consider partial unawareness of victims as to the source of harm; this provides a role for plaintiffs …