[watsonfellow]

The post was cut off before I could finish it. Obviously, you don't need perfect information, but my understanding of it was that the closer you get to perfect information (ie in terms of responsibilities and rights, obligations and ownership) then litigation is less likely, and if it occurs, it becomes easier to adjudicate.

[Torie]

In my experience, litigation can thrive with quite perfect information. The sans culottes can be quite irrational, and that combined with lawyer avarice is more than sufficent to keep the lights in all the courtrooms lite, as well the rooms of a phalanx of private judges.