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Louis Kaplow, Steven Shavell
NBER Working Paper No. 4203 (Also Reprint No. r1899)*
Issued in August 1994
NBER Program(s): LE
---- Abstract -----
Many legal rules, notably rules of procedure and evidence, are concerned with achieving accuracy in the outcome of adjudication. In this article, we study accuracy in the conventional model of law enforcement. We consider why reducing error in determining liability is socially valuable and how error and its reduction affect the optimal probability and magnitude of sanctions.
*Published: Journal of Law and Economics, Vol. XXXVII, pp. 1-15, (April 1994).
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