Gryphon Discusses Contingent Fees

Over at Point of Law, Marie Gryphon has an interesting discussion about contingent fees.  Based on the research of behavioral economists Eyal Zamir and Ilana Ritov, Gryphon addresses the following questions:

Why do plaintiffs with assets opt for contingent fees over hourly rates? Why are contingent fees so uniform? And if contingent fees are so attractive to plaintiffs, why haven’t defendants demanded similar arrangements?

–CJR