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Information Costs And The Civil Justice System, Keith N. Hylton
Information Costs And The Civil Justice System, Keith N. Hylton
Faculty Scholarship
Litigation is costly because information is not free. Given that information is costly and perfect information prohibitively costly, courts will occasionally err. Finally, the fact that information is costly implies an unavoidable degree of informational asymmetry between disputants. This paper presents a model of the civil justice system that incorporates these features and probes its implications for compliance with the law, efficiency of law, accuracy in adjudication, trial outcome statistics, and the evolution of legal standards. The model’s claims are applied to and tested against the relevant empirical and legal literature. (JEL: D74, K10, K13, K41)
The Influence Of Litigation Costs On Deterrence Under Strict Liability And Under Negligence, Keith N. Hylton
The Influence Of Litigation Costs On Deterrence Under Strict Liability And Under Negligence, Keith N. Hylton
Faculty Scholarship
This paper examines the influence of litigation costs on deterrence under strict liability and under negligence. By deterrence, I refer to the effect of the threat of liability on the care exercised by potential injurers. More precisely, this paper takes litigation costs as given and examines the social desirability of the levels of care exercised under negligence and under strict liability.