On being asset-constrained in litigation contests |
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Authors: | Tim Friehe |
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Institution: | 1. Department of Economics, University of Konstanz, Box D 136, 78457, Konstanz, Germany
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Abstract: | This paper establishes that being asset-constrained may be advantageous for defendants in litigation contests. An active asset constraint of defendants (i) may increase (decrease) defendant (plaintiff) contest effort, (ii) may lower the sum of plaintiff and defendant contest effort, (iii) lowers expected defendant payment, and (iv) makes a symmetric contest asymmetric. |
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