Comment on Aligning the Interests of Lawyers and Clients

7 Pages Posted: 18 Dec 2003

See all articles by Abraham L. Wickelgren

Abraham L. Wickelgren

University of Texas at Austin - School of Law; University of Texas at Austin - Center for Law, Business, and Economics

Date Written: August 2003

Abstract

Polinsky and Rubinfeld (2003) propose a novel system for eliminating the conflict of interest between lawyers and clients over how hard the lawyer should work on a given case. In their analysis of the system, however, Polinsky and Rubinfeld implicitly assume that the lawyer's marginal cost of effort is common knowledge. This comment shows that, when that assumption is relaxed, while their scheme does reduce the agency problem relative to the standard contingency fee arrangement, it no longer eliminates it.

Keywords: attorney-client, agency, contingent fees

JEL Classification: K10, K41

Suggested Citation

Wickelgren, Abraham L., Comment on Aligning the Interests of Lawyers and Clients (August 2003). Available at SSRN: https://ssrn.com/abstract=478062 or http://dx.doi.org/10.2139/ssrn.478062

Abraham L. Wickelgren (Contact Author)

University of Texas at Austin - School of Law ( email )

727 East Dean Keeton Street
Austin, TX 78705
United States

University of Texas at Austin - Center for Law, Business, and Economics

Austin, TX 78712
United States

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