3 ms·

So the thing with lawyers is that there is no communication (i.e. it's only "tacit collusion"). In this case there is communication via the company with the pri

So the thing with lawyers is that there is no communication (i.e. it's only "tacit collusion"). In this case there is communication via the company with the pricing algorithms. My brother studied tacit collusion as part of his econ PhD (and new lawyers was one of the markets he looked at) but it would be a hard thing to actually legislate against and isn't illegal. You can't just be like "you guys can't pay the same".

lupire 3y ago
Of course there is communication. https://abovethelaw.com/2024/01/latham-salary-2023/ https://abovethelaw.com/2024/01/latham-salary-2023/ What's missing is the pressure on other firms to match. This is more like the leader raising pay and other firms chasing them.
- tdb7893 3y ago
  I mean yeah they can see what other firms do but they aren't actually talking to each other (or at least not in a proveable way) to organize prices. It's a very different situation than having a business with an algorithm to share pricing models. Obviously law firms colluding on prices isn't good but how they are colluding is completely different.