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Cost-Benefit Analysis of Class Actions: An Israeli Perspective

Author

Listed:
  • Alon Klement
  • Keren Weinshall-Margel

Abstract

We propose an analytical framework for evaluating the effectiveness of class actions, in which their costs are estimated against the benefits they produce in attaining three objectives: law enforcement and deterrence; access to courts; and compensation. We outline parameters for measuring the social costs and benefits relevant to these objectives and evaluate them for Israeli class actions, based on original data including all class actions filed between 2006 and 2012 (n = 2,056). Findings indicate that class actions did not substantially facilitate access to courts and compensation, and that they had limited success in realizing law enforcement and deterrence.

Suggested Citation

  • Alon Klement & Keren Weinshall-Margel, 2016. "Cost-Benefit Analysis of Class Actions: An Israeli Perspective," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 172(1), pages 75-103.
    • Handle: RePEc:mhr:jinste:urn:doi:10.1628/093245616x14472269022780
    DOI: 10.1628/093245616X14472269022780
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    Cited by:

    1. Christoph Engel & Alon Klement & Karen Weinshall Margel, 2017. "Diffusion of Legal Innovations: The Case of Israeli Class Actions," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2017_11, Max Planck Institute for Research on Collective Goods, revised Jan 2018.

    More about this item

    JEL classification:

    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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