Chapter

Cost-Efficiency

Alex Stein

in Foundations of Evidence Law

Published in print August 2005 | ISBN: 9780198257363
Published online January 2010 | e-ISBN: 9780191711039 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198257363.003.0005
Cost-Efficiency

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This chapter presents an economic analysis of evidence law. Cost-efficiency requires adjudicators to minimize the aggregate cost of accuracy-enhancing procedures and fact-finding errors. The chapter examines the evidential mechanisms to attain this goal. These mechanisms enhance cost-efficiency by eliminating the problem of private information and the misalignment between the private litigants’ incentives and the social good. These mechanisms include decision rules that determine the burdens and the standards of proof, as well as different process rules that determine what evidence is admissible and what fact-finding methodologies are allowed.

Keywords: evidence law; cost-efficiency; decision rules; process rules; credibility rules

Chapter.  14498 words. 

Subjects: Jurisprudence and Philosophy of Law

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