An Analysis of Fee-shifting Based on the Margin of Victory
An Analysis of Fee-shifting Based on the Margin of Victory

Author: Lucian A. Bebchuk

Publisher:

Published: 1994

Total Pages: 54

ISBN-13:

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We show that, when plaintiffs cannot predict the outcome of litigation with certainty, neither the American rule of litigation cost allocation (under which each litigant bears its own expenses) nor the British rule (under which the losing litigant pays the attorneys' fees of the winning litigant) would induce plaintiffs to make optimal decisions to bring suit. In particular, plaintiffs may bring frivolous suits when litigation costs are sufficiently small relative to the amount at stake, and plaintiffs may not bring some meritorious suits when litigation costs are sufficiently large relative to the amount at stake. We analyze the effect of more general fee-shifting rules that are based not only upon the identity of the winning party but also on how strong the court perceives the case to be at the end of the trial -- that is, the 'margin of victory.' In particular, we explore how and when one can design such a rule to induce plaintiffs to sue if and only if they believe their cases are sufficiently strong. Our analysis suggests some considerations to guide the interpretation of Federal Rule of Civil Procedure 11.

40 Years of Research on Rent Seeking 2
40 Years of Research on Rent Seeking 2

Author: Roger D. Congleton

Publisher: Springer Science & Business Media

Published: 2008-08-01

Total Pages: 834

ISBN-13: 9783540791850

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The last survey of the rent-seeking literature took place more than a decade ago. Since that time a great deal of new research has been published in a wide variety of journals, covering a wide variety of topics. The scope of that research is such that very few researchers will be familiar with more than a small part of contemporary research, and very few libraries will be able to provide access to the full breadth of that research. This two-volume collection provides an extensive overview of 40 years of rent-seeking research. The volumes include the foundational papers, many of which have not been in print for two decades. They include recent game-theoretic analyses of rent-seeking contests and also appUcations of the rent-seeking concepts and methodology to economic regulation, international trade policy, economic history, poUtical com petition, and other social phenomena. The new collection is more than twice as large as any previous collection and both updates and extends the earUer surveys. Volume I contains previously pubhshed research on the theory of rent-seeking contests, which is an important strand of contemporary game theory. Volume II contains previously published research that uses the theory of rent-seeking to an alyze a broad range of public policy and social science topics. The editors spent more than a year assembling possible papers and, although the selections fill two large volumes, many more papers could have been included.

Legal Origins and the Efficiency Dilemma
Legal Origins and the Efficiency Dilemma

Author: Nuno Garoupa

Publisher: Taylor & Francis

Published: 2016-12-08

Total Pages: 213

ISBN-13: 1315311208

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Inherent flaws of the legal origins in researching the field of corporate law: the taxonomy of countries -- Inherent flaws of the legal origins in researching the field of corporate law: coding errors -- The inherent dangers of the persisting influence of legal origins theory on the international level -- The US and EU: legal origins and individual institutes in US and EU corporate laws -- Bibliography -- Index

University of Chicago Law Review: Volume 81, Number 3 - Summer 2014
University of Chicago Law Review: Volume 81, Number 3 - Summer 2014

Author: University of Chicago Law Review

Publisher: Quid Pro Books

Published: 2014-09-19

Total Pages: 545

ISBN-13: 161027850X

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The third issue of 2014 features three articles from recognized legal scholars, as well as extensive student research. Contents include: Articles: • Following Lower-Court Precedent, by Aaron-Andrew P. Bruhl • Constitutional Outliers, by Justin Driver • Intellectual Property versus Prizes: Reframing the Debate, by Benjamin N. Roin Review: • The Text, the Whole Text, and Nothing but the Text, So Help Me God: Un-Writing Amar's Unwritten Constitution, by Michael Stokes Paulsen Comments: • Standing on Ceremony: Can Lead Plaintiffs Claim Injury from Securities That They Did Not Purchase?, by Corey K. Brady • FISA's Fuzzy Line between Domestic and International Terrorism, by Nick Harper • The Perceived Intrusiveness of Searching Electronic Devices at the Border: An Empirical Study, by Matthew B. Kugler • Comcast Corp v Behrend and Chaos on the Ground, by Alex Parkinson • Maybe Once, Maybe Twice: Using the Rule of Lenity to Determine Whether 18 USC 924(c) Defines One Crime or Two, by F. Italia Patti • Let's Be Reasonable: Controlling Self-Help Discovery in False Claims Act Suits, by Stephen M. Payne • A Dispute Over Bona Fide Disputes in Involuntary Bankruptcy Proceedings, by Steven J. Winkelman The University of Chicago Law Review first appeared in 1933, thirty-one years after the Law School offered its first classes. Since then the Law Review has continued to serve as a forum for the expression of ideas of leading professors, judges, and practitioners, as well as students, and as a training ground for University of Chicago Law School students, who serve as its editors and contribute Comments and other research. Principal articles and essays are authored by accomplished legal and economics scholars. Quality ebook formatting includes active TOC, linked notes, active URLs in notes, and all the charts, tables, and formulae found in the original print version.

Handbook of Law and Economics
Handbook of Law and Economics

Author: A. Mitchell Polinsky

Publisher: Elsevier

Published: 2007-11-07

Total Pages: 887

ISBN-13: 0080554245

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Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions — for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the legal system are thus a natural subject of study by economists. Moreover, given the importance of law to the welfare of societies, the economic analysis of law merits prominent treatment as a subdiscipline of economics. Our hope is that this two volume Handbook will foster the study of the legal system by economists.*The two volumes form a comprehensive and accessible survey of the current state of the field.*Chapters prepared by leading specialists of the area.*Summarizes received results as well as new developments.

Handbook of Public Economics
Handbook of Public Economics

Author: Martin Feldstein

Publisher: Elsevier

Published: 2002-01-25

Total Pages: 744

ISBN-13: 0080544193

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The Field of Public Economics has been changing rapidly in recent years, and the sixteen chapters contained in this Handbook survey many of the new developments. As a field, Public Economics is defined by its objectives rather than its techniques and much of what is new is the application of modern methods of economic theory and econometrics to problems that have been addressed by economists for over two hundred years. More generally, the discussion of public finance issues also involves elements of political science, finance and philosophy. These connections are evidence in several of the chapters that follow. Public Economics is the positive and normative study of government's effect on the economy. We attempt to explain why government behaves as it does, how its behavior influences the behavior of private firms and households, and what the welfare effects of such changes in behavior are. Following Musgrave (1959) one may imagine three purposes for government intervention in the economy: allocation, when market failure causes the private outcome to be Pareto inefficient, distribution, when the private market outcome leaves some individuals with unacceptably low shares in the fruits of the economy, and stabilization, when the private market outcome leaves some of the economy's resources underutilized. The recent trend in economic research has tended to emphasize the character of stabilization problems as problems of allocation in the labor market. The effects that government intervention can have on the allocation and distribution of an economy's resources are described in terms of efficiency and incidence effects. These are the primary measures used to evaluate the welfare effects of government policy.

The New Palgrave Dictionary of Economics and the Law
The New Palgrave Dictionary of Economics and the Law

Author: NA NA

Publisher: Springer

Published: 2016-04-30

Total Pages: 696

ISBN-13: 1349741736

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A great deal of economics is about law - the functioning of markets, property rights and their enforcement, financial obligations, and so forth - yet these legal aspects are almost never addressed in the academic study of economics. Conversely, the study and practice of law entails a significant understanding of economics, yet the drafting and administration of laws often ignore economic principle. The New Palgrave Dictionary of Economics and the Law is uniquely placed by the quality, breadth and depth of its coverage to address this need for building bridges. Drawn from the ranks of academics, professional lawyers, and economists in eight countries, the 340 contributors include world experts in their fields. Among them are Nobel laureates in economics and eminent legal scholars. First published in 1998 and now available in paperback for the first time, The New Palgrave Dictionary of Economics and the Law has established itself as a classic reference work in this important field.