Abstract

http://ssrn.com/abstract=2404483
 
 

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A Market for Justice: A First Empirical Look at Third Party Litigation Funding


David Abrams


University of Pennsylvania Law School

Daniel L. Chen


ETH Zurich - Center for Law and Economics

2013

University of Pennsylvania Journal of Business Law, Vol. 15, P. 1075, 2013
U of Penn, Inst for Law & Econ Research Paper No. 14-7

Abstract:     
The alienability of legal claims holds the promise of increasing access to justice and fostering development of the law. While much theoretical work points to this possibility, no empirical work has investigated the claims, largely due to the rarity of trading in legal claims in modern systems of law. In this paper we take the first step toward empirically testing some of these theoretical claims using data from Australia. We find some evidence that third-party funding corresponds to an increase in litigation and court caseloads. Cases with third-party funders are more prominent than comparable ones. While third-party funding may have effects on both the cases funded and the courts in jurisdictions where it is most heavily used, the overall welfare effects are ambiguous.

Number of Pages in PDF File: 36

Keywords: Litigation rights, trading, contingency fee, legal services market, comparative, foreign law, maintenance and champerty

JEL Classification: K10, K40, K41

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Date posted: March 6, 2014  

Suggested Citation

Abrams, David and Chen, Daniel L., A Market for Justice: A First Empirical Look at Third Party Litigation Funding (2013). University of Pennsylvania Journal of Business Law, Vol. 15, P. 1075, 2013; U of Penn, Inst for Law & Econ Research Paper No. 14-7. Available at SSRN: http://ssrn.com/abstract=2404483 or http://dx.doi.org/10.2139/ssrn.2404483

Contact Information

David S. Abrams (Contact Author)
University of Pennsylvania Law School ( email )
3501 Sansom Street
Philadelphia, PA 19104
United States
Daniel L. Chen
ETH Zurich - Center for Law and Economics ( email )
Haldeneggsteig 4
D-GESS IFW E 44
8092 Zurich, CH-1015
Switzerland
41 44 632 4462 (Phone)
41 44 632 10 97 (Fax)
HOME PAGE: http://www.dlchen.ethz.ch
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