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Job Mobility and the Market for Lawyers

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  • Robert M. Sauer

Abstract

This paper studies the life cycle career choices of several cohorts of law school graduates from the University of Michigan. The model assumes that thses graduates act according to the optimal solution of a dynamic optimization problem in which they sequentially choose among five employment sectors.
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  • Robert M. Sauer, 1998. "Job Mobility and the Market for Lawyers," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 147-171, February.
    • Handle: RePEc:ucp:jpolec:v:106:y:1998:i:1:p:147-171
    DOI: 10.1086/250005
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    References listed on IDEAS

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    1. McFadden, Daniel, 1989. "A Method of Simulated Moments for Estimation of Discrete Response Models without Numerical Integration," Econometrica, Econometric Society, vol. 57(5), pages 995-1026, September.
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    3. Wood, Robert G & Corcoran, Mary E & Courant, Paul N, 1993. "Pay Differences among the Highly Paid: The Male-Female Earnings Gap in Lawyers' Salaries," Journal of Labor Economics, University of Chicago Press, vol. 11(3), pages 417-441, July.
    4. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-990, October.
    5. Weisbrod, Burton A, 1983. "Nonprofit and Proprietary Sector Behavior: Wage Differentials among Lawyers," Journal of Labor Economics, University of Chicago Press, vol. 1(3), pages 246-263, July.
    6. Keane, Michael P & Wolpin, Kenneth I, 1994. "The Solution and Estimation of Discrete Choice Dynamic Programming Models by Simulation and Interpolation: Monte Carlo Evidence," The Review of Economics and Statistics, MIT Press, vol. 76(4), pages 648-672, November.
    7. O'Flaherty, Brendan & Siow, Aloysius, 1995. "Up-or-Out Rules in the Market for Lawyers," Journal of Labor Economics, University of Chicago Press, vol. 13(4), pages 709-735, October.
    8. Zvi Eckstein & Kenneth I. Wolpin, 1989. "The Specification and Estimation of Dynamic Stochastic Discrete Choice Models: A Survey," Journal of Human Resources, University of Wisconsin Press, vol. 24(4), pages 562-598.
    9. Spurr, Stephen J, 1987. "How the Market Solves an Assignment Problem: The Matching of Lawyers with Legal Claims," Journal of Labor Economics, University of Chicago Press, vol. 5(4), pages 502-532, October.
    10. Wolpin, Kenneth I, 1992. "The Determinants of Black-White Differences in Early Employment Careers: Search, Layoffs, Quits, and Endogenous Wage Growth," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 535-560, June.
    11. Stephen J. Spurr & Glenn T. Sueyoshi, 1994. "Turnover and Promotion of Lawyers: An Inquiry into Gender Differences," Journal of Human Resources, University of Wisconsin Press, vol. 29(3), pages 813-842.
    12. Sherwin Rosen, 1972. "Learning and Experience in the Labor Market," Journal of Human Resources, University of Wisconsin Press, vol. 7(3), pages 326-342.
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    Cited by:

    1. Robert M. Sauer, 2007. "Why develop open-source software? The role of non-pecuniary benefits, monetary rewards, and open-source licence type," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 23(4), pages 605-619, Winter.
    2. Murat G. Kirdar, 2012. "Estimating The Impact Of Immigrants On The Host Country Social Security System When Return Migration Is An Endogenous Choice," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(2), pages 453-486, May.
    3. Elena Pastorino, 2012. "Careers in firms: estimating a model of learning, job assignment, and human capital aquisition," Staff Report 469, Federal Reserve Bank of Minneapolis.
    4. Demiralp, Berna, 2011. "Occupational self-selection in a labor market with moral hazard," European Economic Review, Elsevier, vol. 55(4), pages 497-519, May.
    5. Bouckaert, Jan & Stennek, Johan, 2022. "Conflicts of Interest, Ethical Standards, and Competition in Legal Services," Working Papers in Economics 820, University of Gothenburg, Department of Economics, revised Oct 2022.
    6. repec:dau:papers:123456789/2945 is not listed on IDEAS
    7. Marcelin Joanis, 2002. "L'économie de l'éducation: méthodologies, constats et leçons," CIRANO Working Papers 2002s-70, CIRANO.
    8. Iossa, Elisabetta & Jullien, Bruno, 2007. "The Market for Lawyers: The Value of Information on the Quality of Legal Services," IDEI Working Papers 485, Institut d'Économie Industrielle (IDEI), Toulouse.
    9. Lex Borghans & Bart Golsteyn, 2007. "Skill transferability, regret and mobility," Applied Economics, Taylor & Francis Journals, vol. 39(13), pages 1663-1677.
    10. Boylan, Richard T & Long, Cheryl X, 2005. "Salaries, Plea Rates, and the Career Objectives of Federal Prosecutors," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 627-651, October.
    11. Keane, Michael P. & Todd, Petra E. & Wolpin, Kenneth I., 2011. "The Structural Estimation of Behavioral Models: Discrete Choice Dynamic Programming Methods and Applications," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 4, chapter 4, pages 331-461, Elsevier.
    12. Vanessa C. Burbano & John Mamer & Jason Snyder, 2018. "Pro bono as a human capital learning and screening mechanism: Evidence from law firms," Strategic Management Journal, Wiley Blackwell, vol. 39(11), pages 2899-2920, November.
    13. Pablo Casas‐Arce, 2010. "Career Tournaments," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 19(3), pages 667-698, September.
    14. De Pinto, Alessandro & Nelson, Gerald C., 2004. "A Dynamic Model Of Land Use Change With Spatially Explicit Data," 2004 Annual meeting, August 1-4, Denver, CO 20314, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Lex Borghans & Bart Golsteyn, 2007. "Skill transferability, regret and mobility," Applied Economics, Taylor & Francis Journals, vol. 39(13), pages 1663-1677.
    16. Ferreira, Daniel & Nikolowa, Radoslawa, 2024. "Prestige, promotion, and pay," LSE Research Online Documents on Economics 118369, London School of Economics and Political Science, LSE Library.
    17. Nuno Garoupa & Fernando Gómez, 2002. "Cashing by the hour: Why large law firms prefer hourly fees over contingent fees," Economics Working Papers 639, Department of Economics and Business, Universitat Pompeu Fabra.
    18. Cozzi, Guido & Francesconi, Marco & Lundberg, Shelly & Mantovan, Noemi & Sauer, Robert M., 2018. "Advancing the economics of gender: New insights and a roadmap for the future," European Economic Review, Elsevier, vol. 109(C), pages 1-8.
    19. Sieg, Holger & Wang, Yu, 2018. "The impact of student debt on education, career, and marriage choices of female lawyers," European Economic Review, Elsevier, vol. 109(C), pages 124-147.
    20. Holger Sieg & Yu Wang, 2017. "The Impact of Student Debt on Education, Career, and Marriage Choices of Female Lawyers," NBER Working Papers 23453, National Bureau of Economic Research, Inc.
    21. Moshe Buchinsky, 2008. "Residential Location in Israel," 2008 Meeting Papers 931, Society for Economic Dynamics.
    22. Yamamura Eiji, 2008. "The Market for Lawyers and Social Capital: Are Informal Rules a Substitute for Formal Ones?," Review of Law & Economics, De Gruyter, vol. 4(1), pages 499-517, December.

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    More about this item

    JEL classification:

    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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