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Full-Text Articles in Law
Comparative Analysis Of Litigation Systems: An Auction‐Theoretic Approach, Michael R. Baye, Dan Kovenock, Casper G. De Vries
Comparative Analysis Of Litigation Systems: An Auction‐Theoretic Approach, Michael R. Baye, Dan Kovenock, Casper G. De Vries
Economics Faculty Articles and Research
A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown to 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 skilful attorneys. This framework permits us to compare the equilibrium legal expenditures that arise under a continuum of legal systems. The British rule, Continental rule, American rule, and some recently proposed legal reforms are special cases of our model.
Cautionary Lessons From American Securities Arbitration: Litigation Versus Arbitration, Ronald D. Rotunda
Cautionary Lessons From American Securities Arbitration: Litigation Versus Arbitration, Ronald D. Rotunda
Law Faculty News Articles, Editorials, and Blogs
In the United States, it is now quite common for lawyers and others to bemoan what is often referred to as 'the litigation crisis. ' No less an authority than former Chief Justice Warren Burger has long complained that American courts 'have become overburdened' by too may lawsuits... Similarly, the Report of the prestigious American Bar Association's Commission on Professionalism recommends expanded use of arbitration in lieu of a norrnal trial before a judge and lay jury. There should be no rush to judgment favouring arbitration. In the first place, it is not at all clear that there is a …