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Informational Externalities in Settlement Bargaining: Confidentiality and Correlated Culpability

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Author Info

  • Andrew F. Daughety
  • Jennifer F. Reinganum

Abstract

We explore informational externalities that arise when multiple plaintiffs are harmed by the behavior or product of a single defendant. An early plaintiff is likely to raise the awareness of a later plaintiff, and the later plaintiff will be able to learn something about the defendant's culpability by observing the disposition of the early suit: the presence of an early plaintiff provides a benefit to a later plaintiff. The presence of the later plaintiff also confers a potential benefit on the early plaintiff: the early plaintiff has the opportunity to charge the defendant for controlling the flow of information (e.g., through confidential settlement).

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Bibliographic Info

Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 33 (2002)
Issue (Month): 4 (Winter)
Pages: 587-604

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Handle: RePEc:rje:randje:v:33:y:2002:i:winter:p:587-604

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Web page: http://www.rje.org

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Web: https://editorialexpress.com/cgi-bin/rje_online.cgi

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Cited by:
  1. Spier, Kathryn E., 2001. "The Use of “Most-Favored-Nation†Clauses in Settlement of Litigation," Berkeley Olin Program in Law & Economics, Working Paper Series qt7hm4d39g, Berkeley Olin Program in Law & Economics.
  2. Andrew F. Daughety & Jennifer F. Reinganum, 2002. "Exploiting Future Settlements: A Signalling Model of Most-Favored-Nation Clauses In Settlement Bargaining," Vanderbilt University Department of Economics Working Papers 0221, Vanderbilt University Department of Economics, revised Oct 2002.
  3. repec:van:wpaper:vuecon-sub-13-00001 is not listed on IDEAS
  4. Florian Baumann & Tim Friehe, 2011. "Emotions in Litigation Contests," CESifo Working Paper Series 3351, CESifo Group Munich.

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