Search engine for discovering works of Art, research articles, and books related to Art and Culture
Javascript must be enabled to continue!
When Silence Speaks: Dynamic Learning and Hidden Action in Attorney-Client Relationships
View through CrossRef
We develop a dynamic model of attorney-client agency combining hidden information and hidden action. The attorney observes case quality but cannot credibly communicate it; the client learns through Bayesian updating from the absence of revealed settlement opportunities. Strategic concealment by the attorney slows this learning process. The attorney's decision to conceal opportunities is characterized as a real option, trading off immediate gains against the value of waiting for lower-effort opportunities. Contingency fees mitigate this option value but require sharing potential gains with the attorney. Nash bargaining predicts moderate contingency rates. Combining ex-ante screening with dynamic learning generates predictions consistent with empirical patterns.
Title: When Silence Speaks: Dynamic Learning and Hidden Action in Attorney-Client Relationships
Description:
We develop a dynamic model of attorney-client agency combining hidden information and hidden action.
The attorney observes case quality but cannot credibly communicate it; the client learns through Bayesian updating from the absence of revealed settlement opportunities.
Strategic concealment by the attorney slows this learning process.
The attorney's decision to conceal opportunities is characterized as a real option, trading off immediate gains against the value of waiting for lower-effort opportunities.
Contingency fees mitigate this option value but require sharing potential gains with the attorney.
Nash bargaining predicts moderate contingency rates.
Combining ex-ante screening with dynamic learning generates predictions consistent with empirical patterns.
Related Results
Funkcije komunikacijski relevantne šutnje u njemačkome
Funkcije komunikacijski relevantne šutnje u njemačkome
Additionally, this chapter presents research of silence with review of main aspects of papers in the field of conversational analysis, ethnography of communication and metaphor of ...
Expressive Silence in the Poetry of Keats and Clare
Expressive Silence in the Poetry of Keats and Clare
This thesis seeks to show how silence is inherent to the poetic expression of John Keats (1795
– 1821) and John Clare (1793 – 1894). It attends to specific allusions to silences an...
THE PERFORMANCE OF SILENCE IN EARLY CHINA: THE YANZI CHUNQIU AND BEYOND
THE PERFORMANCE OF SILENCE IN EARLY CHINA: THE YANZI CHUNQIU AND BEYOND
AbstractThis article looks beyond the dichotomy between silence (mo 默) and speech (yan 言) and discusses the functions of and attitudes toward silence in the Yanzi chunqiu 晏子春秋 as a...
The Canberra Bubble
The Canberra Bubble
According to the ABC television program Four Corners, “Parliament House in Canberra is a hotbed of political intrigue and high tension … . It’s known as the ‘Canberra Bubble’ and i...
CREATING LEARNING MEDIA IN TEACHING ENGLISH AT SMP MUHAMMADIYAH 2 PAGELARAN ACADEMIC YEAR 2020/2021
CREATING LEARNING MEDIA IN TEACHING ENGLISH AT SMP MUHAMMADIYAH 2 PAGELARAN ACADEMIC YEAR 2020/2021
The pandemic Covid-19 currently demands teachers to be able to use technology in teaching and learning process. But in reality there are still many teachers who have not been able ...
Silence as Medium
Silence as Medium
This text is a sustained philosophical exploration of silence as an aesthetic, ethical, and epistemic medium. It examines silence not as the absence of sound, but as a generative p...
Literary Silences in Pascal, Rousseau, and Beckett
Literary Silences in Pascal, Rousseau, and Beckett
Abstract
To explore literary silence is to explore the relationships between literary texts and the silence of the ineffable. It is to enquire what dynamics texts de...
Power in Silence: Captions, Deafness, and the Final Girl
Power in Silence: Captions, Deafness, and the Final Girl
IntroductionThe horror film Hush (2016) has attracted attention since its release due to the uniqueness of its central character—a deaf–mute author who lives in a world of silence....