학술저널
A Model of Infinitely Repeated Litigation with Correlated Decisions
- 한국계량경제학회
- JOURNAL OF ECONOMIC THEORY AND ECONOMETRICS
- Vol.21 No.4
-
2010.1247 - 58 (12 pages)
- 29
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This paper considers a model of repeated litigation in which a single long-lived defendant faces an infinite sequence of short-lived plaintiffs. Court decisions are correlated across periods, rejecting the presence of precedent effects. We derive unique Markov perfect equilibrium payoffs for the long-lived defendant, and compare them to the predictions of a corresponding two-period benchmark model.
1 Introduction
2 The Setup
3 Results
4 Concluding Discussion
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