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In Litigation: How Far do the ?Haves? Come Out Ahead

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Author Info
Zhou, J. (Tilburg University, Center for Economic Research)

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Abstract

This paper studies the consequences of asymmetric litigation costs. Under three differ- ent protocols: static legal process, dynamic legal process with exogenous sequencing and dynamic legal process with endogenous sequencing, solutions are obtained for the litigation efforts and the expected value of lawsuits on each side. Outcomes are evaluated in terms of two normative criteria: achieving `justice' and minimizing aggregate litigation cost. The theory implies that a moderate degree of asymmetry may improve access to justice. The dynamics of legal process may accentuate or diminish the effect of asymmetry. The en- dogenous sequencing protocol minimizes cost and may improve access to justice.

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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2007-10.

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Date of creation: 2007
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Handle: RePEc:dgr:kubcen:200710

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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