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Jordan comments on Open Thread: November 2009 - Less Wrong
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And you don't see any issues with this? That would seem to be far worse than the English rule/losers-pay.
I pick a random rich target, find 50 street bums, and have them file suits; the bums can't contribute more than a few flea infested dollars, so my target pays for each of the 50 suits brought against him. If he contributes only a little, then both sides' lawyers will be the crappiest & cheapest ones around, and the suit will be a diceroll; so my hobos will win some cases, reaping millions, and giving most of it to me per our agreement. If he contributes a lot, then we'll both be able to afford high-powered lawyers, and the suit will be... a diceroll again. But let's say better lawyers win the case for my target in all 50 cases; now he's impoverished by the thousands of billable hours (although I do get nothing).
I go to my next rich target and say, sure would be a shame if those 50 hobos you ran over the other day were to all sue you...
How is this different from how things currently are, beyond a factor of two in cost for the target?
It's not an issue of weakening the defense/target, but a massive strengthening of the offense.
Aside from the doubling of the target's defense expenses (what, like that's irrelevant or chump change?), I can launch 50 or 100 suits against my target for nothing. At that point, a judge having a bad day is enough for me to become a millionaire. Any system which is so trivially exploitable is a seriously bad idea, and I'm a little surprised Eliezer thinks it's an improvement at all.
(I could try to do this with contingency-fees, but no sane firm would take my 100 frivolous suits on contingency payment and so I couldn't actually do this.)
Good point. My initial response to your comment was short sighted.