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Precedents and Timing: A Strategic Analysis of Multi-Plaintiff Litigation
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Jihong Lee
Published/Copyright:
October 6, 2004
We study the decision of when to sue in a game in which multiple plaintiffs have similar cases against a single defendant. Two legal regimes are considered. In one, prior results are binding in all future cases. In contrast, under the prevalent asymmetric regime, adverse results are binding against the defendant in future actions, but a judgement adverse to one plaintiff will not be binding against another plaintiff. Some legal scholars have argued that such a system is unfair to defendants and benefits plaintiffs. Our analysis reveals, however, that an asymmetric regime may actually hurt plaintiffs in equilibrium by inducing them to wait.
Published Online: 2004-10-6
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Articles in the same Issue
- Advances Article
- Policy Advice with Imperfectly Informed Experts
- Backward Induction and Model Deterioration
- Contributions Article
- Search and Bargaining in Large Markets With Homogeneous Traders
- To Make or Buy: An Allocation of Attention
- A Simple Inducement Scheme to Overcome Adoption Externalities
- Optimal Dynamic Portfolio Risk with First-Order and Second-Order Predictability
- Uniform Proofs of Order Independence for Various Strategy Elimination Procedures
- Players With Limited Memory
- Precedents and Timing: A Strategic Analysis of Multi-Plaintiff Litigation
- Optimal Auctions with Endogenous Entry
- Topics Article
- Multiple-Object Auctions Around a Circle
- Market Size and Vertical Equilibrium in the Context of Successive Cournot Oligopolies
- Trade and Linked Exchange; Price Discrimination Through Transaction Bundling
- A Sequential Signaling Model of the Sale of an Invention to an Oligopolist
- Vertical Differentiation, Asymmetric Information and Endogenous Bank Screening
- Patent Renewal Fees and Self-Funding Patent Offices
- Imitation and Long Run Outcomes
- Counterfactual Reasoning and Common Knowledge of Rationality in Normal Form Games
- Unraveling of Information: Competition and Uncertainty
- A Theory of Vague Expected Utility
- Sequential Decision-Making and Asymmetric Equilibria: An Application to Takeovers
