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On Plaintiff Preferences Regarding Methods of Compensating Lawyers

Author

Listed:
  • Friehe Tim

    (University of Marburg, Marburg, Germany)

  • Gabuthy Yannick

    (University of Lorraine, Nancy, Lothringen, France)

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

  • Friehe Tim & Gabuthy Yannick, 2019. "On Plaintiff Preferences Regarding Methods of Compensating Lawyers," Review of Law & Economics, De Gruyter, vol. 15(3), pages 1-20, November.
    • Handle: RePEc:bpj:rlecon:v:15:y:2019:i:3:p:20:n:4
    DOI: 10.1515/rle-2018-0008
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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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