NDLI: What Clients Want: Choices between Lawyers' Offerings

Content Provider	Semantic Scholar
Author	Felsö, F. Onderstal, Sander Seldeslachts, Jo
Copyright Year	2015
Abstract	We analyze a client's choice of contract in auctions where Dutch law firms compete for routine cases. The distinguishing feature here is that lawyers may submit bids with any fee arrangement they prefer: an hourly rate, a fixed fee or a mixed fee, which is a time-capped fixed fee plus an hourly rate for any additional hours should the case take longer than expected. Furthermore, this format of selling legal services is unusual in that it both forces lawyers to compete directly against each other and allows clients to easily compare these different offers. We empirically estimate a choice model for clients and find robust evidence that hourly rate bids are a client's least-preferred choice. Our findings tentatively contradict lawyers' often made argument that hourly rates are in a client's best interest.
File Format	PDF HTM / HTML
DOI	10.2139/ssrn.2577820
Alternate Webpage(s)	https://www.econstor.eu/bitstream/10419/108731/1/821054031.pdf
Alternate Webpage(s)	https://papers.tinbergen.nl/14020.pdf
Alternate Webpage(s)	https://www.econstor.eu/bitstream/10419/98879/1/14-020.pdf
Alternate Webpage(s)	http://www.diw.de/documents/publikationen/73/diw_01.c.498482.de/dp1460.pdf
Alternate Webpage(s)	https://doi.org/10.2139/ssrn.2577820
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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