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The Economics Of Third-Party Financed Litigation, Keith N. Hylton
The Economics Of Third-Party Financed Litigation, Keith N. Hylton
Faculty Scholarship
This paper examines the law and economics of third-party financed litigation. I explore the conditions under which a system of third-party financiers and litigators can enhance social welfare, and the conditions under which it is likely to reduce social welfare. Among the applications I consider are the sale of legal rights (such as contingent tort claims) to insurers, to patent trolls, and to financiers generally
Information, Litigation, And Common Law Evolution, Keith N. Hylton
Information, Litigation, And Common Law Evolution, Keith N. Hylton
Faculty Scholarship
It is common in the legal academy to describe judicial decision trends leading to new common law rules as resulting from conscious judicial effort. Evolutionary models of litigation, in contrast, treat common law as resulting from pressure applied by litigants. One apparent difficulty in the theory of litigation is explaining how trends in judicial decisions favoring one litigant, and biasing the legal standard, could occur. This article presents a model in which an apparent bias in the legal standard can occur in the absence of any effort toward this end on the part of judges. Trends can develop favoring the …