Aggregate litigation and regulatory innovation: Another view of judicial efficiency

International Review of Law and Economics

Volumn 32, Issue 1, 2012, Pages 63-71

  Ramello, Giovanni B ^a  

^a UNIVERSITY OF EASTERN PIEDMONT   (Italy)

Author keywords

Aggregate litigation; Asbestos; Efficiency; Hierarchy; Innovation; Market for risk; Regulation

Indexed keywords

EID: 84859268445     PISSN: 01448188     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.irle.2011.12.009     Document Type: Article

References (52)

1. Arlen J. Contracting over liability: Medical malpractice and the cost of choice. University of Pennsylvania Law Review 2010, 158:957-1023.
2. Backhaus J.G. The law firm as an investment bank in class actions. European Journal of Law and Economics 2011, 32:225-228.
3. Barbalace, R. C. (2004a). 'A brief history of asbestos use and associated health risks', EnvironmentalChemistry.com Last accessed: 05.10.11. http://environmentalchemistry.com/yogi/environmental/asbestoshistory2004.html.
4. Barbalace, R. C. (2004b). 'Asbestos: A manufacturing health hazard dating to prehistoric times', EnvironmentalChemistry.com. Last accessed: 05.10.11. http://environmentalchemistry.com/yogi/environmental/asbestoshealthhazards.htm.
5. Bernstein R. Judicial economy and class action. Journal of Legal Studies 1977, 7(2):349-370.
6. Burch E.C. Securities class action as pragmatic ex-post regulation. Georgia Law Review 2008, 43:63-131.
7. Calabresi G. Some Thoughts on Risk Distribution and the Law of Tort. Yale Law Journal 1961, 70:499-551.
8. Calabresi G. The cost of accident 1970, Yale University Press, New Haven.
9. Calabresi G., Schwarts K.S. The costs of class actions: Allocation and collective redress in the US experience. European Journal of Law and Economics 2011, 32:169-183.
10. Cane P. Using tort law for enforcing environmental regulations?. Washburn Law Journal 2002, 41:427-467.
11. Carroll S.J., Hensler D., Gross J., Sloss E.M., Schonlau M., Abrahamse A., et al. Asbestos litigation 2005, RAND Corporation, Santa Monica, CA.
12. Cassone A., Ramello G.B. The simple economics of class action: private provision of club and public goods. European Journal of Law and Economics 2011, 32:205-224.
13. Cook P.J., Ludwig J. Litigation as regulation: firearms in Viscusi 2002.
14. De Mot J., Depoorter B. Tort law and probabilistic litigation: How to apply multipliers to address the problem of negative value suits. International Review of Law and Economics 2010, 30:236-243.
15. Deffains B., Langlais E. Informational externalities and settlements in mass tort litigations. European Journal of Law and Economics 2011, 32:241-262.
16. Edwards B.K., Starr R.M. A note on indivisibilities, specialization, and economics of scale. American Economic Review 1984, 77:192-194.
17. Erichson H.M Mississippi class actions and the inevitability of mass aggregate litigation. Mississippi College Law Review 2005, 24:285-296.
18. Friedman D.D. Law's order. What economics has to do with law and why it matters 2000, Princeton University Press, Princeton.
19. Gelderman G.A. The fundamentals of assets recovery. Investment and Pensions Europe 2006, (May):2-3.
20. Georgakopoulos N.L. Principle and methods of law and economics. Basic tools for normative reasoning 2005, Cambridge University Press, New York.
21. Glaeser E.L., Johnson S., Shleifer A. Coase versus the Coasians. Quarterly Journal of Economics 2001, 113(3):853-899.
22. Glaeser E.L., Shleifer A. The rise of the regulatory state. Journal of Economic Literature 2003, 41(2):401-425.
23. Glaeser E.L., Scheinkman J., Shleifer A. The injustice of inequality. Journal of Monetary Economics 2003, 50:199-222.
24. Gruenspecht H.K., Lave L.B. The economics of health, safety, and environmental regulation. Handbook of industrial organization 1989, Vol. II. North Holland-Elsevier, Amsterdam.
25. Halpern P.J., Turnbull S.M. Legal fees contracts and alternative cost rules: An economic analysis. International Review of Law and Economics 1983, 3:3-26.
26. Helland E., Klick J. The trade-off between regulation and litigation: Evidence from insurance class actions. Journal of Tort Law 2007, 1:1-24.
27. Heller M., Eisenberg R. Can patents deter innovation? The anticommons in biomedical research. Science 1998, 280:698-701.
28. Hensler D.R. The future of mass litigation: Global class actions and third-party litigation funding. George Washington Law Review 2011, 79:306-323.
29. Hensler D.R. Revisiting the monster: New myths and realities of class action and other large scale litigation. Duke Journal of Comparative and International Law 2001, 11:179-213.
30. Hersch J. 'Breast Implants: Regulation, Litigation and Science', in Viscusi (2002) 2002.
31. Hilgard M.C., Kraayvanger J. Class action and mass action in Germany. International Bar Association Litigation Committee Newsletter 2007, (September):40-41.
32. Hylton K.H. When should we prefer tort law to environmental regulation?. Washburn Law Journal 2002, 41:515-534.
33. Kolstad C.D., Ulen T.S., Johnson G.V. Ex-post liability for harm vs. ex-ante safety regulation: Substitutes or complements. American Economic Review 1990, 80:888-901.
34. List J.A. Field experiments: A bridge between lab and naturally occurring data. Advances in Economic Analysis & Policy 2006, 6:1-45.
35. McChesney F. Rent extraction and rent creation in the economic theory of regulation. Journal of Legal Studies 1987, 16:101-118.
36. McCubbins M.D., Page T. The congressional foundation of agency performance. Public Choice 1986, 51:173-190.
37. NeJaime D. Winning through losing. Iowa Law Review 2011, 96:941-1012.
38. Nelson R.R., Winter S.G. An evolutionary theory of the economic change 1982, Belknap Press, Cambridge, Mass.
39. Olson M. The logic of collective action: Public goods and the theory of groups (Revised edition ed.) 1971 [1965], Harvard University Press.
40. Porrini D., Ramello G.B. Class action and financial markets: Insights from law and economics. Journal of Financial Economic Policy 2011, 3:140-160.
41. Rose-Ackerman S. Regulation and the Law of Torts, American Economic Review. Papers and Proceedings 1991, 81(2):54-58.
42. Rose-Ackerman S. Controlling environmental policy 1995, Yale University Press, New Haven.
43. Ramello G.B. Property rights, firm boundaries, and the Republic of S....cience. A note on Ashish Arora and Robert Merges. Industrial and Corporate Change 2005, 14:1195-1204.
44. Sacconi L. The case against lawyers' contingent fees and the misapplication of principal-agent models. European Journal of Law and Economics 2011, 32:263-292.
45. Shavell S. Liability for Harm versus Regulation of Safety. Journal of Legal Studies 1984, 13(2):357-374.
46. Shavell S. Economic Analysis of Accident Law 1987, Harvard University Press, Cambridge.
47. Spulber D.F. Regulation and markets 1989, The MIT Press, Cambridge, MA/London.
48. Stigler G. The theory of economic regulation. Bell Journal of Economics and Management Science 1971, 2:3-21.
49. Regulation through litigation 2002, Brooking Institution Press, Washington, DC. W.K. Viscusi (Ed.).
50. White M. Asbestos and the future of mass torts. Journal of Economic Perspectives 2004, 18:183-204.
51. White M.J. Asbestos Litigation: Procedural Innovations and Forum Shopping. Journal of Legal Studies 2006, 35:365-398.
52. Wittman D. Prior regulation versus post liability: The choice between input and output regulation. Journal of Legal Studies 1977, 6:193-211.