This paper deals with the risk of opportunism – the usual risk in economic exchanges. The breach of contract is probably the most common event in daily life and has therefore attracted research and debates in many disciplines of the social sciences. Our discussion deals with the current...

Court delays are a frequent concern, yet what explains court case duration remains incompletely understood. We study the time to court case resolution by drawing on a detailed case-level dataset of civil suits filed at a major Belgian court. We utilize the competing risks regression framework to...

3rd party litigation funding agreements are a new solution to a traditional problem of how can impecunious potential litigants nevertheless still fund their positive NPV legal claims?These agreements can help complete a particular missing market for litigation funding and also remedy a specific...

This paper presents a mathematical model to evaluate the risks of arbitration in contractual disputes to decide whether or not to raise an arbitration case for a claim. It adds the ingredient of a regret theory approach for taking that decision, if an amicable settlement amount is not agreed....

In merger agreements, the seller makes contractual representations and warranties (“reps”) about the state of the target, e.g., attesting to the accuracy of the target’s financial statements. We obtain a proprietary sample of claims for breaches of the reps in acquisition agreements...

Court delays are a frequent concern, yet what explains court case duration remains incompletely understood. We study the time to court case resolution by drawing on a detailed case-level dataset of civil suits filed at a major Belgian court. We utilize the competing risks regression framework to...

This Article presents YUM! Brands, Inc. disclosure information and presents valuable insight into the risks of starting a business that shares intellectual property with another party. YUM! is the parent of entities such as KFC, Pizza Hut, and Taco Bell with locations around the world. YUM! is...

Court delays are a frequent concern, yet what explains court case duration remains incompletely understood. We study the time to court case resolution by drawing on a detailed case-level dataset of civil suits filed at a major Belgian court. We utilize the competing risks regression framework to...

We investigate how individual risk preferences affect the likelihood of selecting the more able contestant within a two-player Tullock contest. Our theoretical model yields two main predictions: First, an increase in the risk aversion of a player worsens her odds unless she already has a...