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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 examines optimal price (i.e. 'sliding scale') regulation of a monopoly when productivity and managerial effort are not observed. We show generally how to operationalize this model of incentive regulation and use actual data from electricity distribution in England and Wales to...
Persistent link: https://www.econbiz.de/10005447603
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