Free choice of legal fee shifting rules?

• Autores: Christian Schwab, Hin-Yue Tang, Stefan Winter
• Localización: European journal of law and economics, ISSN 0929-1261, Vol. 37, Nº 2, 2014, págs. 299-324
• Idioma: inglés
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• Resumen

  • In every country in the world parties to private litigation are subject to a predetermined fee shifting regime. While there are no institutionalized opt-out provisions so far, we demonstrate that such provisions could improve welfare. We argue that private negotiations are not a viable alternative to such opt-out provisions. We derive the conditions under which welfare improvements occur and suggest an applicable design for such an opt-out scheme.