Litigation as Rent-Seeking
University of Minnesota - Law School; University of Bologna
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics; University of St. Thomas School of Law
February 25, 2013
U of St. Thomas Legal Studies Research Paper No. 13-07
Minnesota Legal Studies Research Paper No. 13-15
Litigation aims at resolving conflicts. In this chapter we survey the law and economics literature on litigation to illustrate the scope of application of rent-seeking models and their analytical power in the study of law and procedural issues of litigation, including applications in adversarial and inquisitorial procedures, fee-shifting, consolidation and bifurcation of trials and tort liability. We present a unified model of rent-seeking recasting the various perspectives in the literature, to illustrate the power of rent-seeking models in addressing different dimensions of substantive and procedural legal problems.
Number of Pages in PDF File: 21
Keywords: Litigation expenditures, rent-seeking, fee-shifting, bifurcation, evidence and discovery
JEL Classification: B31, D72, K10, K12, K13, K41
Date posted: February 27, 2013
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