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Maybe there Is No Bias in the Selection of Disputes for Litigation

Author

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  • Eric Helland
  • Daniel Klerman
  • Yoon-Ho Alex Lee

Abstract

New York closing-statement data provide unique insight into settlement and selection. The distributions of settlements and adjudicated damages are remarkably similar, and the average settlement is very close to the average judgment. One interpretation is that selection effects may be small or nonexistent. Because existing litigation models all predict selection bias, we develop a simple, no-selection-bias model that is consistent with the data. Nevertheless, we show that the data can also be explained by generalized versions of screening, signaling, and Priest-Klein models.

Suggested Citation

  • Eric Helland & Daniel Klerman & Yoon-Ho Alex Lee, 2018. "Maybe there Is No Bias in the Selection of Disputes for Litigation," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 174(1), pages 143-170, March.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(201803)174:1_143:mtinbi_2.0.tx_2-j
    DOI: 10.1628/093245618X15115174056060
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    Citations

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    Cited by:

    1. Dari-Mattiacci, Giuseppe & Saraceno, Margherita, 2020. "Fee shifting and accuracy in adjudication," International Review of Law and Economics, Elsevier, vol. 63(C).
    2. Krishnan, C.N.V. & Solomon, Steven Davidoff & Thomas, Randall S., 2020. "How do legal standards matter? An empirical study of special litigation committees," Journal of Corporate Finance, Elsevier, vol. 60(C).
    3. Monika Stachowiak-Kudła & Janusz Kudła, 2022. "Path dependence in administrative adjudication: the role played by legal tradition," Constitutional Political Economy, Springer, vol. 33(3), pages 301-325, September.

    More about this item

    Keywords

    litigation; settlement; selection; asymmetric information; screening; signaling; Priest; Klein; inconsistent priors; divergent expectations;
    All these keywords.

    JEL classification:

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

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