Regulation of Several Market Failures: The Water Industry in England and Wales
Legal services have characteristics which may cause markets for them to develop in rather idiosyncratic ways. Many consumers are inexperienced in buying legal services and may have difficulty in anticipating the cost of quality of service they can expect from lawyer. This paper explores the provision of legal services from the standpoint of developments in the economics of information and uncertainty. It argues that asymmetries of information between lawyer and client can help explain matters such as the organizational form of law firms. Changes in the legislative and regulatory environment in which law firms operate have made the market more competitive. Along with volatile property market conditions over the past decade, these changes have had an important influence on the structure of the market for legal services. Some of these trends are reviewed. The paper concludes with some comments on recent developments in the field of legal aid. Copyright 1993 by Oxford University Press.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
When requesting a correction, please mention this item's handle: RePEc:oup:oxford:v:9:y:1993:i:4:p:14-23. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.