Arbeitspapier
Diffusion of legal innovations: The case of Israeli class actions
In law and economics, it is standard to model legal rules as an opportunity structure. The law's subjects maximize expected profit, given these constraints. In such a model, the reaction to legal innovation is immediate. This is not what we observe after class action is introduced into Israeli law. For a long time, the new remedy is almost unused. Then the adoption process gains momentum. We discuss alternative options for theorizing the effect. We find that market entry is not only explained by the available information about profitability, but also by the adoption pattern of others. When deciding whether to bring further claims, law firms also react to the experiences they have made themselves. We thus explain the pattern by individual and social learning, and cannot exclude mere social imitation.
- Sprache
-
Englisch
- Erschienen in
-
Series: Preprints of the Max Planck Institute for Research on Collective Goods ; No. 2017/11
- Klassifikation
-
Wirtschaft
Institutions: Design, Formation, Operations, and Impact
Firm Behavior: Theory
Firm Behavior: Empirical Analysis
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Basic Areas of Law: General (Constitutional Law)
Litigation Process
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Engel, Christoph
Klement, Alon
Weinshall, Keren
- Ereignis
-
Veröffentlichung
- (wer)
-
Max Planck Institute for Research on Collective Goods
- (wo)
-
Bonn
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Engel, Christoph
- Klement, Alon
- Weinshall, Keren
- Max Planck Institute for Research on Collective Goods
Entstanden
- 2017
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