EconPapers    
Economics at your fingertips  
 

The regulation of quality in the market for legal services: Taking the heterogeneity of legal services seriously

Camille Chaserant () and Sophie Harnay

European Journal of Comparative Economics, 2013, vol. 10, issue 2, 267-291

Abstract: Reviewing the public and private interest approaches to the regulation in the market for legal services, this article points out their mutual inconsistency and their empirical and theoretical limits. It then argues that heterogeneous legal services should be considered when (de)regulating the market. Drawing upon the distinction between credence, experience, and search goods, we distinguish various legal services according to the degree of asymmetric information on quality characterizing the relationship between lawyers and clients. We argue that the heterogeneity of legal services impacts on the desirable level of regulation, implying that not all the markets for legal services should be regulated or, conversely, deregulated. Furthermore, when regulation is needed, the degree of asymmetric information between the regulatory authority and lawyers partly determines the choice between external and self-regulation.

Keywords: quality; regulation; self-regulation; lawyer; legal services; credence good (search for similar items in EconPapers)
JEL-codes: K2 K4 L14 L15 L44 L84 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://ejce.liuc.it/18242979201302/182429792013100208.pdf (application/pdf)

Related works:
Working Paper: The regulation of quality in the market for legal services: Taking the heterogeneity of legal services seriously (2013)
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: https://EconPapers.repec.org/RePEc:liu:liucej:v:10:y:2013:i:2:p:267-291

Access Statistics for this article

European Journal of Comparative Economics is currently edited by Matteo Migheli, Giovanni Ramello, Koji Domon, Peter Grajzl, David M. Kemme, Marcello Signorelli and Richard Watt

More articles in European Journal of Comparative Economics from Cattaneo University (LIUC) Contact information at EDIRC.
Bibliographic data for series maintained by Piero Cavaleri ().

 
Page updated 2020-12-16
Handle: RePEc:liu:liucej:v:10:y:2013:i:2:p:267-291