Class Action

Bone, Robert G.

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Class Action

Procedural Law and Economics (Edward Elgar), Forthcoming

U of Texas Law, Law and Econ Research Paper No. 209

28 Pages Posted: 17 May 2011 Last revised: 21 Jun 2011

See all articles by Robert G. Bone

Robert G. Bone

University of Texas School of Law

Date Written: May 17, 2011

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.

Keywords: class action, economics of litigation

JEL Classification: K0, K40, K41

Suggested Citation: Suggested Citation

Bone, Robert G., Class Action (May 17, 2011). Procedural Law and Economics (Edward Elgar), Forthcoming, U of Texas Law, Law and Econ Research Paper No. 209, Available at SSRN: https://ssrn.com/abstract=1844548