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Uncertainty, Information and Resolution of Medical Malpractice Disputes

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  • Sloan, Frank A
  • Hoerger, Thomas J

Abstract

This study assesses the role of defendant liability in determining whether the plaintiff receives payment, relationship of compensation to economic loss, and stage of dispute resolution. An options pricing model explains how information acquired affects both decisions to drop or continue and settlement values, as well as the role of pecuniary motives for claiming. Cases in which a panel of physician evaluators thought defendant(s) to be innocent were much more likely to be dropped, as were cases in which innocence became more apparent as the case developed. Compensation was much less than economic loss on average. Questionable defendant liability reduced compensation. Copyright 1991 by Kluwer Academic Publishers

Suggested Citation

  • Sloan, Frank A & Hoerger, Thomas J, 1991. "Uncertainty, Information and Resolution of Medical Malpractice Disputes," Journal of Risk and Uncertainty, Springer, vol. 4(4), pages 403-423, December.
    • Handle: RePEc:kap:jrisku:v:4:y:1991:i:4:p:403-23
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    Cited by:

    1. Hughes, James W. & Savoca, Elizabeth, 1997. "Measuring the effect of legal reforms on the longevity of medical malpractice claims," International Review of Law and Economics, Elsevier, vol. 17(2), pages 261-273, June.
    2. Jensen, Gail A. & Spurr, Stephen J. & Weycker, Derek A. & Bulycheva, Maria, 1999. "Physicians and the risk of medical malpractice: The role of prior litigation in predicting the future," The Quarterly Review of Economics and Finance, Elsevier, vol. 39(2), pages 267-289.
    3. William Choi & Lan Liang, 2007. "Reverse moral hazard of liability insurers: evidence from medical malpractice claims," Applied Economics, Taylor & Francis Journals, vol. 39(18), pages 2331-2340.
    4. Spurr, Stephen J. & Howze, Sandra, 2001. "The effect of care quality on medical malpractice litigation," The Quarterly Review of Economics and Finance, Elsevier, vol. 41(4), pages 491-513.

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