This study examines how lawsuits against auditors affect the audit pricing and client acceptance strategies of both the audit offices responsible for the failed audit and other audit offices of the same audit firm. We find that non-litigation offices of litigation audit firms decrease their fees following the filing of a lawsuit. However, audit offices involved in litigation increase their audi...

An important aspect of the perceived problem with medical malpractice litigation is the manner in which malpractice claims are resolved.' Following the first medical malpractice crisis in the mid-1970s and the more recent difficulties with insurance costs and availability, the majority of states enacted legislation affecting the procedures used to resolve malpractice claims. 2 Procedural reform...

Recent years have borne witness to a striking increase in expenditures on legal services.’ Various critics of the U.S. legal system have accordingly argued that amounts currently spent on or in anticipation of disputes are socially excessive, and several writers have attempted to address the issue through economic analysis.’ Much of the economic literature has centered on the choice between lit...

It is well-known that if the parties in a legal dispute agree about the likelihood of potential trial outcomes then they will be inclined to settle vs. going to trial in order to reduce litigation costs and risk. In this paper, we assume that both plaintiff and defendant evaluate this decision in accordance with Cumulative Prospect Theory. It is found that the two parties will sometimes be unab...

"This paper attempts to describe the nature of Zambia's demographic situation, which eventually led to the formulation of a national population policy; the policy instrument; and some of the measures necessary for the effective implementation of the policy....[The] situation is characterised by three dominant features: a high rate of natural increase, massive urbanisation, and wide variations ...

The Private Securities Litigation Reform Act of 1995 (the “PSLRA”) reflects an innovative congressional effort to refine securities fraud class actions. In adopting the PSLRA, Congress recognized that although the class action is a valuable tool for increasing plaintiff access to the legal system, its structure presents opportunities for abuse. In particular, collective action problems and smal...

This article examines the new statutory regime for paying damages for personal injury by means of periodical payments instead of a lump sum. How are such payments to increase in future to take account of rising care costs, especially when these usually form the largest part of a major award? The answer to this question is crucial in determining the extent that the new form of payment will be us...