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Opening Offers and Out-of-Court Settlement: A Little Moderation May Not Go a Long Way

dc.contributor.authorGuthrie, Chris
dc.contributor.authorKorobkin, Russell
dc.date.accessioned2015-12-16T18:37:25Z
dc.date.available2015-12-16T18:37:25Z
dc.date.issued1994
dc.identifier.citation10 Ohio St. J. on Disp. Resol. 1 (1994)en_US
dc.identifier.urihttp://hdl.handle.net/1803/7362
dc.descriptionarticle published in law journalen_US
dc.description.abstractWhen two litigants resolve a dispute through out-of-court settlement rather than trial, they realize joint gains of trade equal to the sum of the costs both parties would have incurred had they obtained a trial judgment minus the costs they incur reaching settlement. This opportunity for mutual gain causes most civil lawsuits to settle out-of-court. Yet, in spite of the opportunity for joint gain, negotiations fail in a significant number of lawsuits. One reason for this surprising result is that even when joint gains are substantial and obvious to the litigants, they still must agree on a method of dividing those gains of trade - a delicate and often perilous undertaking.en_US
dc.format.extent1 PDF (23 pages)en_US
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.publisherThe Ohio State Journal on Dispute Resolutionen_US
dc.subject.lcshCompromise (Law) -- United States -- Psychological aspectsen_US
dc.subject.lcshDispute resolution (Law) -- United Statesen_US
dc.titleOpening Offers and Out-of-Court Settlement: A Little Moderation May Not Go a Long Wayen_US
dc.typeArticleen_US


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