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This paper considers whether lawyers, acting as agents, respond to financial incentives which are extraneous to their clients' requirements. The authors take, as a case study, lawyers performing legal aid work in England and Wales. An empirical model of legal aid expenditure variations across...
Persistent link: https://www.econbiz.de/10005035281
This paper asks whether lawyers respond to financial incentives in ways that are consistent with predictions from contract theory. It uses data collected from before/after the introduction of standard fees for legal aid lawyers in England and Wales. For some inputs (not all), these substituted...
Persistent link: https://www.econbiz.de/10005578370
This paper addresses the claim that L. J. Savage's account of subjective utility theory models beliefs for all rational agents. Proposals for a two-dimensional model of belief are discussed and sources of criticism of subjective utility theory as a theory of rational choice are categorized. A...
Persistent link: https://www.econbiz.de/10005578086