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Settlement of Litigation under Rule 68: An Economic Analysis

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  • Chung, Tai-Yeong

Abstract

Rule 68 of the U.S. Federal Rules of Civil Procedure provides that a plaintiff who refuses a defendant's formal settlement offer and then obtains a judgment not more favorable than the offer must pay the defendant's postoffer costs. An economic analysis is provided (1) to argue that the standard definition of settlement range is not adequate for analyzing Rule 68 because it contains unreasonable, dominated offers, (2) to present a new definition of the refined settlement range that is adequate for analyzing the effects of Rule 68, and (3) to propose a revision of Rule 68 to encourage settlements of litigation. Copyright 1996 by the University of Chicago.

Suggested Citation

  • Chung, Tai-Yeong, 1996. "Settlement of Litigation under Rule 68: An Economic Analysis," The Journal of Legal Studies, University of Chicago Press, vol. 25(1), pages 261-286, January.
    • Handle: RePEc:ucp:jlstud:v:25:y:1996:i:1:p:261-86
    DOI: 10.1086/467978
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    Cited by:

    1. Dari-Mattiacci, Giuseppe & Saraceno, Margherita, 2020. "Fee shifting and accuracy in adjudication," International Review of Law and Economics, Elsevier, vol. 63(C).
    2. Bebchuk, Lucian Arye & Chang, Howard F, 1999. "The Effect of Offer-of-Settlement Rules on the Terms of Settlement," The Journal of Legal Studies, University of Chicago Press, vol. 28(2), pages 489-513, June.
    3. Bruno Deffains, 1997. "L'analyse économique de la résolution des conflits juridiques," Revue Française d'Économie, Programme National Persée, vol. 12(3), pages 57-99.
    4. Brian G Main & Andrew Park, 1998. "An experiment with two-way offers into court: restoring the balance in pre-trial negotiation," Edinburgh School of Economics Discussion Paper Series 28, Edinburgh School of Economics, University of Edinburgh.
    5. Brian G Main & Andrew Park, 1999. "The impact of defendant offers into court on negotiation in the shadow of the law: experimental evidence," Edinburgh School of Economics Discussion Paper Series 29, Edinburgh School of Economics, University of Edinburgh.
    6. Main, Brian G. M. & Park, Andrew, 2002. "The impact of defendant offers into court on negotiation in the shadow of the law: experimental evidence," International Review of Law and Economics, Elsevier, vol. 22(2), pages 177-192, August.
    7. Schwab, Christian & Tang, Hin-Yue Benny, 2011. "Die Steuerungswirkungen unterschiedlicher Prozesskostenregelungen: Ein Überblick zum Stand von Theorie und Empirie [The economic effects of alternative fee shifting rules: A review of the theoretic," MPRA Paper 32746, University Library of Munich, Germany.

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