Rho: A decision support system for pricing in law firms
Information & ManagementPublished 1 January 1998
Madjid Tavana, Q.B. Chung, Dennis T. Kennedy
Citations8
SJR quartileQ1
SJR score2.92
SNIP2.74
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TL;DR
A decision support system called Rho is presented that allows the user to enter the internal and external data into a set of decision models to determine the strategic pricing for law firms.
Abstract
There is no single schedule of legal fees and the way they are calculated; a rational model of fee determination is acutely needed. This paper presents a decision support system called Rho that allows the user to enter the internal and external data into a set of decision models to determine the strategic pricing for law firms. The paper describes the main features of the system, the optimization model that plays a critical role in the decision process, an illustration of how the system was applied in a real setting, an assessment of the proposed approach and future research issues.
Keywords
Decision SciencesEconomics, Econometrics and FinanceBusiness, Management and Accounting
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