A model of efficient discovery
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amounts of discovery analysis of discovery assume assumption Avinash Dixit avoid trial avoided cost beneﬁt Brownian motion chance of settling Coasian conditional expectation conditional probabilities contributory negligence convex function cost of discovery defendant defendant's discovery derivative disclosure discovered party discovery amounts discovery costs effect efﬁcient amount ex ante probability expected gains expected net gain fact ﬁles ﬁrst formula further discovery gain from settling impasse implications incentive-compatibility conditions incentives for discovery increasing function initial Lagrange multiplier litigation negligence negotiation game negotiation procedure observation obtained from discoveries optimality condition parties settle party's private payment perceived plaintiff plaintiff's expected plaintiff's probability plan of discovery precision hD pretrial settlement prior precision private information privately known parameters probability distribution probability of settling prospects at trial reduces reﬂects sample information satisﬁed settlement escrow settlement negotiations settlement probabilities Shavell sufﬁcient tion trial costs trial outcome trial value variance winner's curse zero-sum