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Accuracy versus Falsification Costs: The Optimal Amount of Evidence under Different Procedures

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Author Info
Emons, Winand
Fluet, Claude

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Abstract

An arbiter can decide a case on the basis of his priors or he can ask for further evidence from the two parties to the conflict. The parties may misrepresent evidence in their favour at a cost. The arbiter is concerned about accuracy and low procedural costs. When both parties testify, each of them distorts the evidence less than when they testify alone. When the fixed cost of testifying is low, the arbiter hears both, for intermediate values one, and for high values no party at all. The arbiter's ability to remain uninformed as well as sequential testifying makes it more likely that the arbiter requires evidence.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6150.

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Date of creation: Feb 2007
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Handle: RePEc:cpr:ceprdp:6150

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Related research
Keywords: adversarial; costly state falsification; evidence production; inquisitorial; multi-sender game;

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Find related papers by JEL classification:
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process
K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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    Other versions:
  2. Claude Fluet & Paolo G. Garella, 1999. "Advertising and Prices as Signals of Quality in a Regime of Price Rivalry," Cahiers de recherche du Département des sciences économiques, UQAM 9903, Université du Québec à Montréal, Département des sciences économiques. [Downloadable!]
    Other versions:
  3. Chris William Sanchirico, 2004. "Relying on the Information of Interested--and Potentially Dishonest--Parties," Law and Economics 0403001, EconWPA. [Downloadable!]
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    Other versions:
  16. Lacker, Jeffrey M & Weinberg, John A, 1989. "Optimal Contracts under Costly State Falsification," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1345-63, December. [Downloadable!] (restricted)
    Other versions:
  17. Kyle Bagwell & Garey Ramey, 1991. "Oligopoly Limit Pricing," RAND Journal of Economics, The RAND Corporation, vol. 22(2), pages 155-172, Summer. [Downloadable!] (restricted)
    Other versions:
  18. Froeb, Luke M & Kobayashi, Bruce H, 1996. "Naive, Biased, Yet Bayesian: Can Juries Interpret Selectively Produced Evidence?," Journal of Law, Economics and Organization, Oxford University Press, vol. 12(1), pages 257-76, April.
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