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On Plaintiff Preferences Regarding Methods of Compensating Lawyers

Author

Listed:
  • Tim Friehe

    (Philipps Universität Marburg = Philipps University of Marburg, CESifo - Center for Economic Studies and Ifo for Economic Research - CESifo Group Munich, EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

  • Yannick Gabuthy

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE], BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper analyzes a litigation contest in which the plaintiff's lawyer and the defendant choose effort. The plaintiff selects the relative importance of a contract component related to the judgment (similar to contingent fees) and a component related to the lawyer's efforts (similar to conditional fees) to ensure lawyer participation and guide the lawyer's decision-making. For our setup, we find that the plaintiff considers the component related to the lawyer's effort to be the relatively more desirable instrument in the light of its effort-inducing and cost characteristics. However, high levels of the lawyer's outside utility may limit the role of this component.

Suggested Citation

  • Tim Friehe & Yannick Gabuthy, 2018. "On Plaintiff Preferences Regarding Methods of Compensating Lawyers," Working Papers hal-02443814, HAL.
    • Handle: RePEc:hal:wpaper:hal-02443814
    DOI: 10.1515/rle-2018-0008
    as

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    Keywords

    Litigation; Agency; Contest; Compensation;
    All these keywords.

    JEL classification:

    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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