Governance Reform in Legal Service Markets

Paul A Grout, Ian David Jewitt and Silvia Sonderegger

No 5959, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper discusses proposed governance reforms of legal services markets. The model distinguishes between a status quo position supported by a system of professionally enforced collective reputation and forms of governance based more squarely on market mechanisms. We identify a number of forces which determine the success of reform. Focussing particularly on the rent recapture and relationship substitution effects, we highlight their impact on client welfare and quality of legal services in different types of market according to whether clients are transient or repeated users of the service.

Keywords: governance; legal services (search for similar items in EconPapers)
JEL-codes: D02 D78 D86 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-reg
Date: 2006-11
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.cepr.org/pubs/dps/DP5959.asp (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Governance Reform in Legal Service Markets (2007)
Working Paper: Governance Reform in Legal Service Markets (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:cpr:ceprdp:5959

Ordering information: This working paper can be ordered from
http://www.cepr.org/pubs/dps/DP5959.asp

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers
Address: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ
Series data maintained by ().