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An exploratory study of the pricing of legal services

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  • Maheshri, Vikram
  • Winston, Clifford

Abstract

Consumers and firms spend some $200 billion annually on legal services, but little is known about the factors that influence lawyers’ prices for those services. In this paper, we explore the determinants of the variation in lawyers’ pricing to shed light on competition among lawyers and to comment on whether entry barriers to legal practice that restrict competition are justified because they protect consumers who may have imperfect information about potential legal service providers. We do not find evidence in support of this premise.

Suggested Citation

  • Maheshri, Vikram & Winston, Clifford, 2014. "An exploratory study of the pricing of legal services," International Review of Law and Economics, Elsevier, vol. 38(S), pages 169-173.
    • Handle: RePEc:eee:irlaec:v:38:y:2014:i:s:p:169-173
    DOI: 10.1016/j.irle.2013.05.003
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    References listed on IDEAS

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    Cited by:

    1. Sankaraguruswamy, Srinivasan & Varottil, Umakanth, 2023. "Which companies pay more (or less) in legal fees? An empirical study of India," International Review of Law and Economics, Elsevier, vol. 75(C).
    2. Bhattacharya, Bibek, 2025. "New here? Lawyer up, please: Differences in external legal expenditure between new ventures and established firms in emerging economies," Journal of Business Venturing Insights, Elsevier, vol. 23(C).
    3. Flóra Felsö & Sander Onderstal & Jo Seldeslachts, 2015. "What Clients Want: Choices between Lawyers' Offerings," Discussion Papers of DIW Berlin 1460, DIW Berlin, German Institute for Economic Research.
    4. Barton, Benjamin H., 2014. "A glass half full look at the changes in the American legal market," International Review of Law and Economics, Elsevier, vol. 38(S), pages 29-42.
    5. Clifford Winston & Quentin Karpilow, 2016. "Should the US Eliminate Entry Barriers to the Practice of Law? Perspectives Shaped by Industry Deregulation," American Economic Review, American Economic Association, vol. 106(5), pages 171-176, May.

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