Overresearch Quotes
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From the law firm's perspective, billing by the hour has a certain appeal: it shifts risk from the firm to the client in case the work takes longer than expected. But from a client's perspective, it doesn't work so well. It gives lawyers an incentive to overstaff and to overresearch cases.
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You have various institutions like law firms and accounting firms which bill by the hour. I'm really against that. You have an incentive to go slowly, be there as long as possible, to over-research things and over-staff.
