Playing it Safe with Low Conditional Fees versus Being Insured by High Contingent Fees
Under contingent fees the attorney gets a share of the judgement; under conditional fees they get an upscale premium if the case is won, which is, however, unrelated to the adjudicated amount. We compare conditional and contingent fees in a framework where lawyers choose between a safe and a risky litigation strategy. Under conditional fees lawyers prefer the safe strategy, under contingent fess the risky one. Risk-averse plaintiffs prefer conditional fees over contingent fees when lawyering costs are low and vice versa for high lawyering costs.
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- Roland Kirstein & Neil Rickman, 2004.
""Third Party Contingency" Contracts in Settlement and Litigation,"
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- Kirstein, Roland & Rickman, Neil, 2002. ""Third Party Contingency" contracts in settlement and litigation," CSLE Discussion Paper Series 2002-11, Saarland University, CSLE - Center for the Study of Law and Economics.
- Kirstein, Roland & Rickman, Neil, 2003. ""Third Party Contingency" contracts in settlement and litigation," CSLE Discussion Paper Series 2003-09, Saarland University, CSLE - Center for the Study of Law and Economics.
- Emons, Winand & Garoupa, Nuno, 2004.
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4473, C.E.P.R. Discussion Papers.
- Winand Emons & Nuno Garoupa, 2004. "The Economics of US-style Contingent Fees and UK-style Conditional Fees," Diskussionsschriften dp0407, Universitaet Bern, Departement Volkswirtschaft.
- Winand Emons, 2004.
"Conditional versus Contingent Fees,"
dp0409, Universitaet Bern, Departement Volkswirtschaft.
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