Open AccessPOSSIBILITIES OF CLIENTS AND CONTRACTOR'S DISPUTES SETTLEMENT AT THE PRETRIAL STAGE
Author(s) -
Violeta Keršulienė
Publication year - 2007
Publication title -
technological and economic development of economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.634
H-Index - 47
eISSN - 2029-4921
pISSN - 2029-4913
DOI - 10.3846/13928619.2007.9637787
Subject(s) - settlement (finance) , optimism , stage (stratigraphy) , value (mathematics) , process (computing) , perception , law , law and economics , political science , business , economics , social psychology , psychology , finance , computer science , paleontology , machine learning , neuroscience , payment , biology , operating system
The article analyses, by using economic methods, the probable behaviour of construction process parties during a dispute settlement. With the use of optimism (or differing perceptions) and asymmetric information models an attempt is made to determine the most economically advantageous behavioural pattern for both parties at the pretrial stage and analyses social value of a litigation dispute.