Truth-Bonding and Other Truth-Revealing Mechanisms for Courts [technical version]
In trials witnesses often gain by slanting their testimony. The law tries to elicit the truth from witnesses by cross-examination under threat of criminal prosecution for perjury. As a truth-revealing mechanism, perjury law is crude and ineffective. We develop the mathematical form of a perfect truth-revealing mechanism, which exactly offsets the gain from slanted testimony by the risk of a possible sanction. Implementing an effective truth-revealing mechanism requires a witness to certify accuracy by posting bond. If events subsequently prove that the testimony was inaccurate, the witness forfeits the bond. By providing superior incentives for telling the truth, truth-bonding could combat some distortions by factual witnesses and interested experts, including â€œjunk scienceâ€ .
|Date of creation:||30 Apr 2001|
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- Emons, Winand, 1994. "The provision of environmental protection measures under incomplete information: An introduction to the theory of mechanism design," International Review of Law and Economics, Elsevier, vol. 14(4), pages 479-491, December.
- Winand Emons, 1993. "The Provision of Environmental Protection Measures under Incomplete Information: An Introduction to the Theory of Mechanism Design," Diskussionsschriften dp9310, Universitaet Bern, Departement Volkswirtschaft.
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