By John Hagan, Kim Lane Scheppele, Tom R. Tyler eds.
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Extra info for Annual Review of Law and Social Science, Vol. 1, 2005
Figure 1 illustrates the equilibrium in a screening model for the case where possible damage levels are uniformly distributed [that is, all values of d are equally likely, so f(d) = 1/(dH − dL )]. 5 Thus, the likelihood of settlement is F(d∗ ) = (d∗ − dL )/(dH − dL ) = (T/p)/(dH − dL ) < 1, the likelihood of trial is (dH − dL − T/p)/(dH − dL ) > 0, and the expected total trial cost is T(dH − dL − T/p)/(dH − dL ). This last item is the social cost associated with the presence of asymmetric information.
2000. The Civilizing Process: Sociogenetic and Psychogenetic Investigations. Trans. E Jephcott. Oxford: Blackwell. Rev. ed. Feeley M. 1997. Comparative criminal law for criminologists: comparing for what purpose? In Comparing Legal Cultures, ed. D Nelken, pp. 93–104. Aldershot, Hants, UK/Brookﬁeld, VT: Dartmouth Feeley M, Simon J. 1992. The new penology: notes on the emerging strategy of corrections and its implications. Criminology 30(4):449– 74 Fletcher G. 1994. Is conspiracy unique to the common law?
For example, a conﬁdential settlement between an early plaintiff and a defendant is likely to affect the information and case viability of a later plaintiff suing the same defendant if the defendant’s culpability is, to some extent, correlated across the cases. Thus, in the section below entitled Externalities Induced by Litigant Discretionary Choice, we consider recent papers that examine how discretionary choices by one or more litigants (to create or capitalize on possible linkages among yet other litigants) generate such externalities.
Annual Review of Law and Social Science, Vol. 1, 2005 by John Hagan, Kim Lane Scheppele, Tom R. Tyler eds.