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Comparative Analysis Of Litigation Systems: An Auction-Theoretic Approach
[chapter]
2005
40 Years of Research on Rent Seeking 2
Preserved Fulltext
A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown by the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case. Rational litigants influence the quality of their cases by hiring skillful attorneys. This framework permits us to compare the equilibrium legal expenditures that arise under a continuum of legal systems.
doi:10.1007/978-3-540-79247-5_24
fatcat:25zgocwcwbbp7j44heifsnp3we