Economics of Pupillage
University of Oxford - Saint Cross College; Middle Temple; Freshfields Bruckhaus Deringer LLP
This paper explores the economics of pupillage and shows why the imposition of minimum pupillage funding significantly reduces the annual supply of pupillages and skews the choice of pupils chosen towards more privileged candidates. The paper estimates the likely knock-on effects of minimum pupillage funding, in terms of reduced population of practicing barristers, increased barristers' fees and reduced public welfare.
Keywords: barrister, pupillage, legal training, professional vocational training, price-fixing, social welfare costs, protectionism, discrimination, anti-competitive
JEL Classification: D18, D43, D45, J44, K21
Date posted: March 3, 2007 ; Last revised: January 26, 2011
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