The information created and disseminated through the litigation process can have social value. Suppose a long-lived plaintiff is suing a defendant for damages sustained in an accident. The plaintiff may suffer similar damages in future accidents involving different defendants. Potential injurers...

A firm licenses a product to overlapping generations of heterogeneous consumers. Consumers may purchase the product, pirate/steal it, or forego it. Higher consumer types enjoy higher gross benefits and are caught stealing at a higher rate. The firm may commit to an out-of-court settlement policy...

A firm sells a dangerous product to heterogeneous consumers. Higher consumer types suffer accidents more often but may enjoy higher gross benefits. The firm invests resources to reduce the frequency of accidents. When the consumer's net benefit function (gross benefits minus expected harms) is...

The information that is created and disseminated through the litigation process can have social value. When economic agents learn about risks, they can fine-tune their future behaviors to mitigate these risks. Specifically, suppose that an injured plaintiff sues a defendant for damages sustained...

The information that is created and disseminated through the litigation process can have social value. When economic agents learn about risks, they can fine-tune their future behaviors to mitigate these risks. Specifically, suppose that an injured plaintiff sues a defendant for damages sustained...

Should platforms be held liable for the harms suffered by users? A two-sided platform enables interactions between firms and users. There are two types of firm: harmful and safe. Harmful firms impose larger costs on the users. If firms have deep pockets then platform liability is unnecessary....