[SOLVED] Economics 434 Economic Analysis of Law Fall 2024 Problem Set 2 Web

Economics 434: Economic Analysis of Law

Fall, 2024

Problem Set #2

This problem set involves considering a contemporary torts case and the legal processes involved with it.  Consider two:

(1) The litigation involving opiod abuse in the United States (see the “Opiod Settlement Tracker” website, located at Opioid Litigation Global Settlement Tracker — Opioid Settlement Tracker; and recent article) Supreme Court overturns opioid settlement with Purdue Pharma that shielded Sacklers : Shots – Health News : NPR; or

(2) The litigation against USC over claims against the former gynecologist George Tyndall (see reporting from N.Y. Times here https://www.nytimes.com/2021/03/25/us/usc-settlement-george-tyndall.html), and a settlement information page here Home | USC Student Health Center Litigation Settlement (usctyndallsettlement.com)  

For this problem set, choose one (1) of these matters or pick a story about any other significant tort or civil liability case (and if you do this, include access to stories about your story/case). Then write up:

A. [20%] A description of the legal matter.  Who were/are the parties?  What did the court hold or what did the settlement do?  If the case has not yet settled, what is its status? How if at all did this represent a change in the law?  What are likely to be the next steps in the matter?

B. [40%] Analyze and discuss the economic effects through the tort system.  How is the decision/settlement likely to affect real world behaviors?  Be sure to include a discussion of how both the level of care and the level of activity in your chosen matter might change.  Do you think the economic effects are “good” or “bad” and why?  What further legal change might you recommend to get a “better” result?

C. [40%] Analyze and discuss the effects of the legal system on the outcome.  What procedural issues did plaintiffs have to overcome to reach a decision or settlement? Why did or did not the case settle?  What elements of legal process affected the timing or amount of the settlement (or failure to settle?)  What are the likely effects of the decision/settlement on the number and nature of future cases to be filed?  What are likely to be the effects on the number of cases going to trial?  The plaintiffs’ “win rates”?