A Formalization and Extension of the Priest-Klein Hypothesis
35 Pages Posted: 15 Jun 2011 Last revised: 13 May 2014
Date Written: April 14, 2011
This paper provides a formal model of the Priest-Klein trial selection hypothesis, and extends the hypothesis as well. We derive the conditions under which the hypothesis is valid, and examine implications for the relationship between trial outcome uncertainty and litigation.
Keywords: Trial Selection Process, Priest-Klein Hypothesis
JEL Classification: D79, K00, K41, K49
Suggested Citation: Suggested Citation