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Class ActionRobert G. BoneUniversity of Texas School of Law May 17, 2011 Procedural Law and Economics (Edward Elgar), Forthcoming U of Texas Law, Law and Econ Research Paper No. 209 Abstract: This essay on the class action will be a chapter in the Procedural Law and Economics volume forthcoming from Edward Elgar. It reviews the law-and-economics literature on the class action, current as of 2008 (when I wrote the chapter). It discusses the benefits of large claim and small claim class actions and reviews the costs of class litigation, including agency costs, adverse selection and opt out, and frivolous and weak class action filings. The chapter also briefly discusses settlement class actions. It concludes with a review of some reform proposals.
Number of Pages in PDF File: 28 Keywords: class action, economics of litigation JEL Classification: K0, K40, K41 Accepted Paper SeriesDate posted: May 17, 2011 ; Last revised: June 27, 2011Suggested CitationContact Information
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