Asbestos Litigation: Procedural Innovations and Forum Shopping
AbstractThis paper examines how forum shopping and procedural innovations affect the outcomes of asbestos trials using a new data set of all asbestos trials from 1987 to 2003. When lawsuits are filed in six particularly favorable jurisdictions, plaintiffs’ expected returns from trial are found to increase by $800,000 to nearly $4 million. The procedural innovations are bifurcated trials, bouquet trials, and consolidation of multiple plaintiffs’ claims for trial. Bifurcated and bouquet trials are found to increase plaintiffs’ expected returns from trial by $650,000 and $1.2 million, respectively. Small consolidations are found to increase plaintiffs’ probabilities of winning and receiving punitive damages, but larger consolidations are associated with lower damage awards.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal The Journal of Legal Studies.
Volume (Year): 35 (2006)
Issue (Month): 2 (06)
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Web page: http://www.journals.uchicago.edu/JLS/
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- Giovanni Battista Ramello, 2011.
"Aggregate litigation and regulatory innovation: another view of judicial efficiency,"
ICER Working Papers
24-2011, ICER - International Centre for Economic Research.
- Ramello, Giovanni B., 2012. "Aggregate litigation and regulatory innovation: Another view of judicial efficiency," International Review of Law and Economics, Elsevier, vol. 32(1), pages 63-71.
- Ramello, Giovanni B., 2012. "Aggregate Litigation and Regulatory Innovation: Another View of Judicial Efficiency," IEL Working Papers 8, Institute of Public Policy and Public Choice - POLIS.
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