Under the doctrine of vicarious liability, a deep-pocket principal is often held responsible for a third-party harm caused by a judgment-proof agent's negligence. We analyze the incentive contract used by the principal to control the agent's behavior when a court can make an error in determining...

In the article, we discuss the phenomenon of third-party financing of lawsuits, which has been subject to intense debate from a legal as well as from an economic point of view. Drawing on the examples of Germany, Australia, and the United States, we show in Part I that different legal systems...

How should citizens evaluate the ever more important case law of international economic courts and their sometimes inadequate responses (e.g. by investor-state arbitration) to ‘the governance gaps created by globalization (which) provide the permissive environment for wrongful acts by...

The position of law on agency assumes substantial importance with relaxation of global investment regulations. Extensive globalization allows firms to acquire assets through agents. When the buyer, vendor and the agent are based in different countries there is chance that they are subject to...