Estimating a bargaining model with asymmetric information: Evidence from medical malpractice disputes

This article uses a unique data set on medical malpractice disputes in Flor ida to estimate the parameters of a bargaining game with asymmetric informa tion. The main findings of the article suggest that the bargaining game can replicate most of the qualitative and quantitative features of the data. T he article also simulates alternative policy regimes to quantify the effect s of possible tort reforms, such as imposing limits on contingency fees and caps on jury awards.