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Cashing By The Hour: Why Large Lawfirms Prefer Hourly Fees Over Contingent Fees

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Author Info
Nuno Garoupa (Universidade Nova de Lisboa)
Fernando Gomez-Pomar (Universitat Pompeu Fabra)

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Paper provided by Berkeley Electronic Press in its series German Working Papers in Law and Economics with number 2003-1-1056.

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Handle: RePEc:bep:dewple:2003-1-1056

Note: oai:bepress:gwp-1056
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Related research
Keywords: Law Firms; Legal Fees; Moral Hazard; Risk-Sharing;

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Find related papers by JEL classification:
D8 - Microeconomics - - Information, Knowledge, and Uncertainty
K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
L8 - Industrial Organization - - Industry Studies: Services

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Daniel F. Rubinfeld & Suzanne Scotchmer, 1993. "Contingent Fees for Attorneys: An Economic Analysis," RAND Journal of Economics, The RAND Corporation, vol. 24(3), pages 343-356, Autumn. [Downloadable!] (restricted)
  2. Robert M. Sauer, 1998. "Job Mobility and the Market for Lawyers," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 147-171, February. [Downloadable!] (restricted)
  3. Gravelle, Hugh & Waterson, Michael, 1993. "No Win, No Fee: Some Economics of Contingent Legal Fees," Economic Journal, Royal Economic Society, vol. 103(420), pages 1205-20, September. [Downloadable!] (restricted)
  4. Spurr, Stephen J, 1987. "How the Market Solves an Assignment Problem: The Matching of Lawyers with Legal Claims," Journal of Labor Economics, University of Chicago Press, vol. 5(4), pages 502-32, October. [Downloadable!] (restricted)
  5. Rosen, S., 1991. "The Market for Lawyers," University of Chicago - Economics Research Center 91-10, Chicago - Economics Research Center.
    Other versions:
  6. Christopher Ferrall, 1996. "Promotions and Incentives in Partnerships: Evidence from Major U.S. Law Firms," Canadian Journal of Economics, Canadian Economics Association, vol. 29(4), pages 811-27, November. [Downloadable!] (restricted)
  7. James B. Rebitzer & Lowell J. Taylor, 2006. "When Knowledge is an Asset: Explaining the Organizational Structure of Large Law Firms," NBER Working Papers 12583, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  8. Dana, James D, Jr & Spier, Kathryn E, 1993. "Expertise and Contingent Fees: The Role of Asymmetric Information in Attorney Compensation," Journal of Law, Economics and Organization, Oxford University Press, vol. 9(2), pages 349-67, October.
  9. O'Flaherty, Brendan & Siow, Aloysius, 1995. "Up-or-Out Rules in the Market for Lawyers," Journal of Labor Economics, University of Chicago Press, vol. 13(4), pages 709-35, October. [Downloadable!] (restricted)
    Other versions:
  10. Emons, Winand, 2000. "Expertise, contingent fees, and insufficient attorney effort," International Review of Law and Economics, Elsevier, vol. 20(1), pages 21-33, March. [Downloadable!] (restricted)
  11. Rickman, Neil, 1999. "Contingent fees and litigation settlement1," International Review of Law and Economics, Elsevier, vol. 19(3), pages 295-317, September. [Downloadable!] (restricted)
  12. A. Mitchell Polinsky & Daniel L. Rubinfeld, 2003. "Aligning the Interests of Lawyers and Clients," American Law and Economics Review, Oxford University Press, vol. 5(1), pages 165-188.
    Other versions:
  13. Hay, Bruce L, 1997. "Optimal Contingent Fees in a World of Settlement," Journal of Legal Studies, University of Chicago Press, vol. 26(1), pages 259-78, January.
  14. Patricia Munch Danzon, 1983. "Contingent Fees for Personal Injury Litigation," Bell Journal of Economics, The RAND Corporation, vol. 14(1), pages 213-224, Spring. [Downloadable!] (restricted)
  15. Miceli, Thomas J & Segerson, Kathleen, 1991. "Contingent Fees for Lawyers: The Impact on Litigation and Accident Prevention," Journal of Legal Studies, University of Chicago Press, vol. 20(2), pages 381-99, June.
  16. Jonathan Levin, 2002. "A Theory of Partnerships," Theory workshop papers 505798000000000002, UCLA Department of Economics. [Downloadable!]
  17. Carr, Jack & Mathewson, Frank, 1990. "The Economics of Law Firms: A Study in the Legal Organization of the Firm," Journal of Law & Economics, University of Chicago Press, vol. 33(2), pages 307-30, October.
  18. Santore, Rudy & Viard, Alan D, 2001. "Legal Fee Restrictions, Moral Hazard, and Attorney Rights," Journal of Law & Economics, University of Chicago Press, vol. 44(2), pages 549-72, October.
  19. Lynk, William J, 1990. "The Courts and the Market: An Economic Analysis of Contingent Fees in Class-Action Litigation," Journal of Legal Studies, University of Chicago Press, vol. 19(1), pages 247-60, January.
  20. Polinsky, A. Mitchell & Rubinfeld, Daniel L., 2002. "A note on settlements under the contingent fee method of compensating lawyers," International Review of Law and Economics, Elsevier, vol. 22(2), pages 217-225, August. [Downloadable!] (restricted)
    Other versions:
  21. Rebitzer, James B & Taylor, Lowell J, 1995. "Efficiency Wages and Employment Rents: The Employer-Size Wage Effect in the Job Market for Lawyers," Journal of Labor Economics, University of Chicago Press, vol. 13(4), pages 678-708, October. [Downloadable!] (restricted)
  22. Hay, Bruce L, 1996. "Contingent Fees and Agency Costs," Journal of Legal Studies, University of Chicago Press, vol. 25(2), pages 503-33, June.
  23. Landers, Renee M & Rebitzer, James B & Taylor, Lowell J, 1996. "Rat Race Redux: Adverse Selection in the Determination of Work Hours in Law Firms," American Economic Review, American Economic Association, vol. 86(3), pages 329-48, June. [Downloadable!] (restricted)
  24. Halpern, P. J. & Turnbull, S. M., 1983. "Legal fees contracts and alternative cost rules: An economic analysis," International Review of Law and Economics, Elsevier, vol. 3(1), pages 3-26, June. [Downloadable!] (restricted)
  25. Miceli, Thomas J, 1994. "Do Contingent Fees Promote Excessive Litigation?," Journal of Legal Studies, University of Chicago Press, vol. 23(1), pages 211-24, January.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Winand Emons & Nuno Garoupa, 2006. "US-style contingent fees and UK-style conditional fees: agency problems and the supply of legal services," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 27(5), pages 379-385. [Downloadable!]
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