Organisation Description Year
Oxford University

Why every economist should learn some auction theory

paper asks whether price transparency is always a good thing (page 13) – firms can see what their competitors are charging (page 14). Sealed bid actions are generally preferred (page 15) to avoid dangers of collusion.

Department for Constitutional Affairs

The funding of personal injury litigation: comparisons over time and across jurisdictions Paul Fenn, University of Nottingham Alastair Gray, University of Oxford Neil Rickman, University of Surrey Yasmeen Mansur, University of Nottingham

Reports a study of personal injury cases involving different sources of plaintiff finance (in particular legal aid, private finance, legal expenses insurance and trade union finance). This allowed the researchers to consider the impact of the source of finance on the handling of the case. They found that:

Legal aid appears to focus on the severity of an injury, whereas other sources of finance such as trade unions are more likely to take account of liability. Privately financed cases were likely to be associated with high levels of defendant (perceived) liability.

Legally aided cases consistently are associated with longer delay to case closure than alternative sources of third party funding (legal expenses insurance and trade unions) or private funding, even having controlled for case severity. This reflects different incentives facing clients and lawyers to settle. From the NHS Trust dataset, we found that: