Rho: A decision support system for pricing in law firms.
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.
|Main Author:||Tavana, Madjid.|
|Other Authors:||Chung, Q B., Kennedy, Dennis T.|