Now showing items 1-4 of 4
Opening Offers and Out-of-Court Settlement: A Little Moderation May Not Go a Long Way
(The Ohio State Journal on Dispute Resolution, 1994)
When two litigants resolve a dispute through out-of-court settlement rather than trial, they realize joint gains of trade equal to the sum of the costs both parties would have incurred had they obtained a trial judgment ...
Better Settle than Sorry: The Regret Aversion Theory of Litigation Behavior
(University of Illinois Law Review, 1999)
Legal scholars have developed two dominant theories of litigation behavior: the Economic Theory of Suit and Settlement,which is based on expected utility theory, and the Framing Theory of Litigation, which is based on ...
Psychological Barriers to Litigation Settlement: An Experimental Approach
(Michigan Law Review, 1994)
The traditional economic model of settlement breakdown -- as developed by Priest and Klein -- provides an important first step in understanding why some lawsuits settle and others go to trial. Rational miscalculation ...
Psychology, Economics, and Settlement: A New Look at the Role of the Lawyer
(Texas Law Review, 1997)
Law and economics models of litigation settlement, based on the behavioral assumptions of rational choice theory, ignore the many psychological reasons that settlement negotiations can fail, yet they accurately predict ...