The Selection of Thirteenth-Century Disputes for Litigation
Daniel M. Klerman
University of Southern California Law School
July 12, 2011
USC Law School, Olin Research Paper No. 00-10
Priest and Klein's seminal 1984 article argued that litigated cases differ systematically and predictably from settled cases. This article tests the Priest-Klein selection model using a data set of thirteenth-century English cases. These cases are especially informative because juries rendered verdicts even in settled cases, so one can directly compare verdicts in settled and litigated cases. The results are consistent with the predictions of the Priest-Klein article, as well as with the asymmetric-information selection models developed by Hylton and Shavell.
Number of Pages in PDF File: 58
Keywords: litigation, settlement, selection
JEL Classification: K41working papers series
Date posted: July 12, 2011
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