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Optimal design of private litigation
Kaplow, Louis - 2017
This article translates and extends Becker (1968) from public law enforcement to private litigation by examining optimal legal system design in a model with private suits, signals of case strength, court error, and two types of primary behavior: harmful acts that may be deterred and benign acts...
Persistent link: https://www.econbiz.de/10011772058
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Private Enforcement and EU Market Abuse Regulation : A Discussion on Direct (Class) Actions and Derivative Actions
Zouridakis, Georgios; Papadopoulos, Thomas - 2023
Within the past decade, the EU has made significant steps in strengthening and harmonising the legal framework of capital markets. Despite passing and amending secondary legislation on this topic, it only partially addressed the issue of enforcement, leaving private enforcement an issue for its...
Persistent link: https://www.econbiz.de/10014261793
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Litigation and Regulation
Schwartzstein, Joshua; Shleifer, Andrei - 2009
We ask whether regulation can usefully supplement litigation in a model of optimal social control of harmful externalities. In our model, firms choose activity levels in addition to precautions. In contrast to the usual analysis, we assume that social returns to activity are higher than private...
Persistent link: https://www.econbiz.de/10014210429
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Exploiting Plaintiffs Through Settlement : Divide and Conquer
Che, Yeon-Koo; Spier, Kathryn E. - 2007
This paper considers settlement negotiations between a single defendant and N plaintiffs when there are Fixed costs of litigation. When making simultaneous take-it-or-leave-it offers to the plaintiffs, the defendant adopts a divide and conquer strategy. Plaintiffs settle their claims for less...
Persistent link: https://www.econbiz.de/10014224717
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Sanctioning Reputation Mechanisms in Online Trading Environments with Moral Hazard
Dellarocas, Chrysanthos - 2014
This paper offers a systematic exploration of reputation mechanism design in trading environments with opportunistic …. The objective of reputation mechanisms in such settings is to induce sellers to exert high effort as often as possible. I … reputation profile, the policy regarding missing feedback, and the rules for admitting new sellers) on the resulting market …
Persistent link: https://www.econbiz.de/10014031061
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Incentive Effects of Class Actions and Punitive Damages Under Alternative Procedural Regimes
Cenini, Marta - 2010
In an economic perspective, punitive damages and class actions can be viewed as sharing a common economic function – creating optimal deterrence. Building on Parisi and Cenini (2010), we study the effect of alternative procedural regimes on the effectiveness of punitive damages and class...
Persistent link: https://www.econbiz.de/10013138272
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Neuroscientists in Court
Jones, Owen D.; Wagner, Anthony D.; Faigman, David L.; … - 2014
Neuroscientific evidence is increasingly being offered in court cases. Consequently, the legal system needs neuroscientists to act as expert witnesses who can explain the limitations and interpretations of neuroscientific findings so that judges and jurors can make informed and appropriate...
Persistent link: https://www.econbiz.de/10014145973
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The Rise of the Regulatory State
Glaeser, Edward L.; Shleifer, Andrei - 2003
During the Progressive Era at the beginning of the 20th century, the United States replaced litigation by regulation as the principal mechanism of social control of business. To explain why this happened, we present a model of choice of law enforcement strategy between litigation and regulation...
Persistent link: https://www.econbiz.de/10014123213
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Patent Pools and Cross-Licensing in the Shadow of Patent Litigation
Choi, Jay Pil - 2021
Most patent pools are formed in the shadow of patent litigation as an attempt to settle disputes in regard to conflicting infringement claims and the validity of patents. To reflect this reality, I develop a simple framework to analyze the incentives to form a patent pool or engage in...
Persistent link: https://www.econbiz.de/10013319657
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An Empirical Analysis of the Signaling and Screening Models of Litigation
Pecorino, Paul; van Boening, Mark - 2016
expected payoffs, but by much less than is predicted by theory. Dispute rates across the two games are approximately equal …
Persistent link: https://www.econbiz.de/10014173918