Comparative Analysis of Litigation Systems: An Auction-Theoretic Approach
By Mike Baye, Dan Kovenock, Casper G. de Vries. Social Science Research Network, 2005
154 citations recorded by the source corpus.
A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown by the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case. Rational litigants influence the quality of their cases by hiring skillful attorneys. This framework permits us to compare the equilibrium legal expenditures that arise under a continuum of legal systems. The British rule, American rule, and some recently proposed legal reforms are special cases of our model.
Subfields: Economics and Econometrics, Management Science and Operations Research
View Paper: https://www.semanticscholar.org/paper/701b196924de77b0a5e729c19f83fd616dfa99bc
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In Economics and Econometrics
In Management Science and Operations Research
Citations in the corpus
- A survey of experimental research on contests, all-pay auctions and tournaments (2014, background): “Baye et al. (2005, 2012) and Chowdhury and Sheremeta (2011a, b, 2014) examine contests in which winner and loser prizes may be asymmetrically influenced by rival effort.”
- The generalized Stackelberg equilibrium of the all-pay auction with complete information (2007, background): “Fl(1)(xE) = 0 for x ∈ [0, x̄E) Cl(2)(x) for x ∈ [x̄E, x̄l(2) ] 1 for x > x̄l(2) (4)”
- A generalized Tullock contest (2011, background): “Another example where spillovers are important is litigation (Farmer and Pecorino 1999; Baye et al. 2005).”
- Economics of court performance: an empirical analysis (2008, background): “demonstration on the effects of other litigation rules on the parties’ behaviour, see Baye et al. 2005 ).”