Construct · 1 fields · 1 citations

asymmetric information model of settlement: a standalone construct

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Law and economics

model in which a defendant with private information about its liability rejects some settlement offers, so trials arise from information asymmetry rather than mutual optimism.

In law and economics, asymmetric information model of settlement refers to model in which a defendant with private information about its liability rejects some settlement offers, so trials arise from information asymmetry rather than mutual optimism. This meaning comes from Bebchuk (1984) in The RAND Journal of Economics.[1]

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Nearby constructs

asymmetry4 fields · 5 citationsjingle · one word, four constructs information4 fields · 5 citationsjingle · one word, four constructs liability2 fields · 2 citationsjingle · one word, two constructs

References

Bebchuk, L. A. (1984). Litigation and Settlement under Imperfect Information. The RAND Journal of Economics, 15(3), 404. https://doi.org/10.2307/2555448

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