| dc.contributor.author | Bouckaert, Jan | |
| dc.contributor.author | Stennek, Johan | |
| dc.date.accessioned | 2022-04-08T12:12:24Z | |
| dc.date.available | 2022-04-08T12:12:24Z | |
| dc.date.issued | 2022-04 | |
| dc.identifier.issn | 1403-2465 | |
| dc.identifier.uri | https://hdl.handle.net/2077/71303 | |
| dc.description | JEL: K40, L13, L22, L44, L84 | en_US |
| dc.description.abstract | We study how the legal profession manages representational conflicts of interest.
Such conflicts arise when the same law firm represents clients with adverse interests. They may compromise the legal process, ultimately jeopardizing social welfare. We argue that current ethical standards, emphasizing disqualification, may actually worsen the clients’ situation. Instead, the clients’ interests are today mainly
protected by law firms being small. Despite low market concentration, law firms enjoy high earnings as representational conflicts create negative network externalities at the firm level. These profits are not eroded even in the long run as entry occurs
through firm splitups. | en_US |
| dc.format.extent | 57 | en_US |
| dc.language.iso | eng | en_US |
| dc.publisher | University of Gothenburg | en_US |
| dc.relation.ispartofseries | Working papers no 820 | en_US |
| dc.subject | law firms | en_US |
| dc.subject | professional services | en_US |
| dc.subject | dual representation | en_US |
| dc.subject | representational conflicts of interest | en_US |
| dc.subject | ethical standards | en_US |
| dc.subject | Chinese walls | en_US |
| dc.subject | recusals | en_US |
| dc.subject | negative network externalities | en_US |
| dc.subject | competition; | en_US |
| dc.subject | self-regulation | en_US |
| dc.title | Conflicts of Interest, Ethical Standards, and Competition in Legal Services | en_US |
| dc.type | Text | en_US |
| dc.type.svep | report | en_US |
| dc.contributor.organization | Department of Economics, University of Gothenburg | en_US |
