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dc.contributor.authorBouckaert, Jan
dc.contributor.authorStennek, Johan
dc.date.accessioned2022-04-08T12:12:24Z
dc.date.available2022-04-08T12:12:24Z
dc.date.issued2022-04
dc.identifier.issn1403-2465
dc.identifier.urihttps://hdl.handle.net/2077/71303
dc.descriptionJEL: K40, L13, L22, L44, L84en
dc.description.abstractWe 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
dc.format.extent57en
dc.language.isoengen
dc.publisherUniversity of Gothenburgen
dc.relation.ispartofseriesWorking papers no 820en
dc.subjectlaw firmsen
dc.subjectprofessional servicesen
dc.subjectdual representationen
dc.subjectrepresentational conflicts of interesten
dc.subjectethical standardsen
dc.subjectChinese wallsen
dc.subjectrecusalsen
dc.subjectnegative network externalitiesen
dc.subjectcompetition;en
dc.subjectself-regulationen
dc.titleConflicts of Interest, Ethical Standards, and Competition in Legal Servicesen
dc.typeTexten
dc.type.svepreporten
dc.contributor.organizationDepartment of Economics, University of Gothenburgen


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