The optimal adjustment to liability when litigation is costly: A note
We show that the optimal liability award with variable litigation costs may be either larger or smaller than the sum of the victim's harm and litigation costs. The reason is that there are two countervailing effects at play. On the one hand, larger damage awards lead to increased litigation exp...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier Inc.
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |