kaal:claim:617681-023

Fear of judicial bias operates through risk premiums: because investors and managers are uncertain how foreign judges will behave and may assume the worst, they price a decision to incorporate in another Member State higher.

Risk premiums charged by actors often reflect both bounded rationality and incomplete information, and managers and investors thus may put a higher price on a decision to incorporate in another Member State.

Christian Kirchner, Richard W. Painter, Wulf A. Kaal, Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro (2004), D.II.1 Bounded Rationality and Incomplete Information About Judicial Bias, p. 29
https://ssrn.com/abstract=617681 · source PDF

Christian Kirchner, Richard W. Painter, Wulf A. Kaal, Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro (2004). SSRN: https://ssrn.com/abstract=617681

• bounded rationality and incomplete information about foreign judges

mechanismsupport: arguedfailure: perceived-judicial-bias-premiumfamily: jurisdictional-conflictrisk-and-incentives

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