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.
Tavana, Madjid; Chung, Q. B.; and Kennedy, Dennis T., "Rho: A decision support system for pricing in law firms" (1998). Business Systems and Analytics Faculty Work. 317.
Tavana, M., Chung, Q B. and Kennedy, D. (1998) ‘Rho: A Decision Support System for Pricing in Law Firms,’ Information and Management, Vol. 33, No. 3, pp. 155-165.