Governance Reform in Legal Service Markets
讨论法律服务市场的治理改革，区分专业集体声誉维持的现状与基于市场机制的治理形式，分析影响改革成败的因素，并考察租金回收和关系替代效应对不同客户类型市场中的客户福利和服务质量的影响。
This article discusses proposed governance reforms of legal services markets. The model distinguishes between a status quo position supported by a system of professionally enforced collective reputation and forms of governance based more squarely on market mechanisms. We identify a number of forces which determine the success of reform. Focusing particularly on the "rent recapture" and "relationship substitution" effects, we highlight their impact on client welfare and quality of legal services in different types of market according to whether clients are transient or repeated users of the service. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007.