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American Law and Economics Review Advance Access originally published online on March 17, 2006
American Law and Economics Review 2006 8(1):20-32; doi:10.1093/aler/ahj002
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© The Author 2006. Published by Oxford University Press on behalf of the American Law and Economics Association. All rights reserved. For permissions, please e-mail: journals.permissions@oxfordjournals.org

Playing It Safe with Low Conditional Fees versus Being Insured by High Contingent Fees

Winand Emons

Universität Bern and the Center for Economic Policy Research

Send correspondence to: Winand Emons, Departement Volkswirtschaft, Universität Bern, Schanzeneckstrasse 1, Postfach 8573, CH-3001 Bern, Switzerland; Phone: +43-31-6313922; Fax: +41-31-6313992; E-mail: winand.emons{at}vwi.unibe.ch.

Under contingent fees the attorney gets a share of the judgment; under conditional fees he gets an upscale premium if the case is won, a premium unrelated, however, to the adjudicated amount. This article compares conditional and contingent fees in a framework where lawyers choose between a safe and a risky litigation strategy. Under conditional fees lawyers prefer the safe strategy; under contingent fess, the risky one. Risk-averse plaintiffs prefer conditional fees over contingent fees when lawyering costs are low and vice-versa for high lawyering costs.


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W. Emons
Conditional versus contingent fees
Oxf. Econ. Pap., January 1, 2007; 59(1): 89 - 101.
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