(by Chris Hanretty) Rankings, ratings and reviews are common in life.
They claim to tell us which are the best films, the best albums, even the best universities.
Ratings are particularly useful for credence goods — goods the quality of which we poor consumers can’t judge.
Law is a good example of a credence good. I might hire a lawyer to represent me in court. I might even attend the court hearing. But I’d have no way of telling whether the lawyer’s arguments were good or bad. If I knew which arguments were good or bad, I could probably have saved some money and represented myself.
It’s therefore no surprise to see that there are lots of rankings for lawyers in the UK. One company (Chambers & Partners) is particularly known for ranking barristers — the kind of lawyers who earn their crust standing up and arguing cases in court.
Does this mean that you should always try and get the best-ranked barrister to represent you? Read the rest of this entry »