Comparative Analysis of Litigation Systems: An Auction-Theoretic Approach
نویسندگان
چکیده
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.
منابع مشابه
Comparative Analysis of Litigation Systems
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 pe...
متن کاملA Comparative Study of Multi-Attribute Continuous Double Auction Mechanisms
Auctions have been as a competitive method of buying and selling valuable or rare items for a long time. Single-sided auctions in which participants negotiate on a single attribute (e.g. price) are very popular. Double auctions and negotiation on multiple attributes create more advantages compared to single-sided and single-attribute auctions. Nonetheless, this adds the complexity of the auctio...
متن کاملA Game Theoretic Approach for Sustainable Power Systems Planning in Transition
Intensified industrialization in developing countries has recently resulted in huge electric power demand growth; however, electricity generation in these countries is still heavily reliant on inefficient and traditional non-renewable technologies. In this paper, we develop an integrated game-theoretic model for effective power systems planning thorough balancing between supply and demand for e...
متن کاملThe Application of Systems-Theoretic Accident Model and Process in the Systematic Nonlinear Analysis of Accidents in Car Industry
Background & objectives: Hundreds of methods have been introduced to analyze various events. Hence one of the effective and principle steps in accident analysis is proper and targeted selection of accident analysis method. Traditional methods of accident analysis in complex industries are not comprehensive and examine each components of the system separately. So, the use of new systematic metho...
متن کاملGame-Theoretic Approach for Pricing Decisions in Dual-Channel Supply Chain
In the current study, a dual-channel supply chain is considered containing one manufacturer and two retailers. It is assumed that the manufacturer and retailers have the same decision powers. A game-theoretic approach is developed to analyze pricing decisions under the centralized and decentralized scenarios. First, the Nash model is established to obtain the equilibrium decisions in the decent...
متن کامل