Note—The Managerial Economics of Civil Litigation: A Note | Zendy

Kofi O. Nti | Zendy

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Note—The Managerial Economics of Civil Litigation: A Note

Author(s) -

Kofi O. Nti

Publication year - 1986

Publication title -

management science

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 4.954

H-Index - 255

eISSN - 1526-5501

pISSN - 0025-1909

DOI - 10.1287/mnsc.32.12.1650

Subject(s) - fraction (chemistry) , economics , plaintiff , constant (computer programming) , actuarial science , civil litigation , process (computing) , mathematical economics , microeconomics , econometrics , law , political science , computer science , chemistry , organic chemistry , programming language , operating system

In his paper, "The Managerial Economics of Civil Litigation," Levy (Levy, F. K. 1985. The managerial economics of civil litigation. Management Sci. 31 (March) 323--342.) develops a model to determine the optimal expenditures and maximal budgets for a plaintiff and a defendant in a civil suit. He uses a learning process to relate each litigant's probability of success to his level of expenditure. The specific learning process used is a difference equation where the rate of enhancement of probability is a constant fraction of the maximum possible gain. Levy's analysis would have been simpler if he had formulated that learning process as a differential equation.

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