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Legal uncertainty and contractual innovation [PDF]

, 2005
Although innovative contracts are important for economic growth, when firms face uncertainty as to whether contracts will be enforced, they may choose not to innovate. Legal uncertainty can arise if a judge interprets the terms of a contract in a way that is antithetical to the intentions of the parties to the contract.
Yaron Leitner
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The Economics of Legal Uncertainty

SSRN Electronic Journal, 2022
In this paper, we study how legal uncertainty affects economic activity. We develop a parsimonious model with different types of legal uncertainty that reduce economic activity and that can be classified as idiosyncratic (i.e., diversifiable) or systematic (i.e., nondiversifiable).
Lee, Jiwon, Schoenherr, David, Starmans, Jan   +2 more
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Uncertainty, Legal Liability and Incentive Contracts

SSRN Electronic Journal, 2005
To address agents' moral hazard over effort, incentive contracts impose risk on the agents. As performance measures become noisier, the conventional agency analysis predicts that principals will reduce the incentive weights assigned to such measures.
John H. Evans, Kyonghee Kim, Nandu J. Nagarajan   +2 more
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Legal Decisions Under Uncertainty

SSRN Electronic Journal, 2001
Lawyers routinely have to decide under considerable uncertainty. Those officially applying the law in force, like judges or public officials, often do not know all the facts of the case. And the legislator ought to know, understand and forecast much more than he usually does.
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Medical Uncertainty, Diagnostic Testing, and Legal Liability

Law, Medicine and Health Care, 1985
Health care cost considerations exert increasing influence today over clinical decision-making. One way to help contain costs while maintaining the quality of health care may be to increase among both physicians and patients an acknowledgment of, and tolerance for, a reasonahle degree of medical uncertainty.
E E, Fortess, M B, Kapp
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