Settlement
Boudewijn Bouckaert and Gerrit De Geest(eds.), Encyclopedia of Law & Economics, Edward Elgar,Cheltemham, 1997, No. 7400
Posted: 20 Jan 1997
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Abstract
This survey of modeling of pretrial settlement bargaining organizes current main themes and recent developments. The basic concepts used are outlined as core models and then a number of variations on these core models are discussed. The focus is on papers that emphasize formal models of settlement negotiation and the presentation is organized in game-theoretic terms, this being the principal tool being employed by analyses in this area; the discussion is aimed at the not-terribly-technical non-specialist. The survey also illustrates some of the basic notions and assumptions of information economics and of (cooperative and noncooperative) game theory.
JEL Classification: C78, D74, K41
Suggested Citation: Suggested Citation