Care levels, settlement outcomes, and the sophistication of present-biased plaintiffs
Revue Economique, ISSN: 0035-2764, Vol: 71, Issue: 3, Page: 459-478
2020
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
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Article Description
This paper analyzes a framework in which a (potentially) present-biased injurer faces (potentially) present-biased plaintiffs. We focus on the injurer's care incentives and victims' filing and settlement behavior. Present-biased victims are less likely to file and more moderate in their settlement demand when compared to those without bias. This fact lowers the injurer's precautions. Plaintiffs may be naive or sophisticated about their present bias. We show that plaintiffs' sophistication about their present bias aggravates the distortion of the equilibrium accident probability.
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