The myriad uncertainties common to the process of adjudication--concerning evidence that opposing parties will present, legal issues that will become relevant, illness of witnesses, and the like--lead to two social problems. First, when unanticipated events occur, the information that parties...

The prison time actually served by a convicted criminal depends to a significant degree on decisions made by the state during the course of imprisonment — on whether to grant parole or other forms of sentence reduction. In this article we study a model of the adjustment of sentences assuming...

The theory of insurance is considered here when an insured individual may be able to sue another party for the losses that the insured suffered — and thus when an insured has a potential source of compensation in addition to insurance coverage. Insurance policies reflect this possibility...

The prison time actually served by a convicted criminal depends to a significant degree on decisions made by the state during the course of imprisonment—on whether to grant parole or other forms of sentence reduction. In this article we study a model of the adjustment of sentences assuming...

The prison time actually served by a convicted criminal depends to a significant degree on decisions made by the state during the course of imprisonment--on whether to grant parole or other forms of sentence reduction. In this article we study a model of the adjustment of sentences assuming that...