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Competing or Colluding in a Stochastic Environment

Breccia, Adriana; Salgado-Band, Héctor - 2022

This paper analyses collusion by innovative firms and the role of patents in a continuous-time real options framework. A patent-investment race model is formulated in which innovative firms bargain and reach collusive agreements. It is shown that, while collusion always delays innovation, it...

Persistent link: https://www.econbiz.de/10013290215

The Causes of Bargaining Failure : Evidence from Major League Baseball

Farmer, Amy; Pecorino, Paul; Stango, Victor - 2008

Much of the law and economics literature, including Bebchuk (1984) and Reinganum and Wilde (1986), explains settlement … failure in bargaining as a consequence of asymmetric information. An alternative, non-strategic explanation found in Shavell … (1982) suggests that settlement failure stems from excessive optimism. Final offer arbitration (FOA) in major league …

Persistent link: https://www.econbiz.de/10014037534

Plaintiffs exploiting plaintiffs

Stremitzer, Alexander - 2008

-it-or-leave-it settlement offers, we can show that they will actually be exploited by one of their fellow plaintiffs rather than by the … settlement even having complete information. This may explain why we observe derivative suits in the US but not in Europe. …

Persistent link: https://www.econbiz.de/10010383020

Bargaining in the shadow of arbitration

Marselli, Riccardo; McCannon, Bryan; Vannini, Marco - 2015

Persistent link: https://www.econbiz.de/10011407474

Bargaining in the shadow of arbitration

Marselli, Riccardo; McCannon, Bryan; Vannini, Marco - In: Journal of economic behavior & organization : JEBO 117 (2015), pp. 356-368

Persistent link: https://www.econbiz.de/10011572151

Labor disputes and pretrial settlements : the French case

Tisserand, Jean-Christian - 2018

Persistent link: https://www.econbiz.de/10012227555

A survey of experimental research on contests, all-pay auctions and tournaments

Dechenaux, Emmanuel; Kovenock, Daniel J.; Sheremeta, … - 2012

Many economic, political and social environments can be described as contests in which agents exert costly efforts while competing over the distribution of a scarce resource. These environments have been studied using Tullock contests, all-pay auctions and rankorder tournaments. This survey...

Persistent link: https://www.econbiz.de/10009687977

Secret Liens and the Financial Crisis of 2008

Simkovic, Michael - 2009

This article explains the roots of financial crises in one of the oldest and most fundamental problems of commercial law: hidden leverage. Common law courts wrestled with this problem for centuries and developed a time - tested solution: the doctrine of secret liens. If the debtor becomes...

Persistent link: https://www.econbiz.de/10012765487

A New Options Theory of Public Interest Lawsuits and Options-Based Risk Multipliers

Huang, Peter H. - 1998

Public interest lawsuits are ubiquitous and crucial to enforcing constitutional and statutory rights. A feature of such litigation is that plaintiffs' attorneys may not get paid unless they prevail. Courts responded to this by enhancing statutory attorneys fee awards with a multiplier reflecting...

Persistent link: https://www.econbiz.de/10012744229

The Effect of Risk on Legal Valuation

Rhee, Robert J. - 2015

From a financial economic perspective, the governing condition of a meritorious civil action is the uncertainty of outcome. Expectation and outcome deviate, and the spread is the measure of uncertainty (or variance). During litigation each party has an option to settle or select trial. The...

Persistent link: https://www.econbiz.de/10012750556