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How the Market Solves an Assignment Problem: The Matching of Lawyers with Legal Claims

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  • Spurr, Stephen J

Abstract

In the market for lawyers, observable data on promotion and turnover can be explained by reference to the idea that there is positive assortative mating of lawyers and legal claim s. There is a scale-of-resources effect, under which it is optimal to assign larger claims to lawyers of higher quality. In a law firm, th e institution of "tenure" performs a sorting function. Lawyers foun d to be of high quality are given tenured positions and the rest leav e. The value of legal claims handled by a firm determines its sorting problem, which in turn determines its promotion ladder and turnover. Copyright 1987 by University of Chicago Press.

Suggested Citation

  • 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.
  • Handle: RePEc:ucp:jlabec:v:5:y:1987:i:4:p:502-32
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    Cited by:

    1. Linda Y. Wong, 2003. "Structural Estimation of Marriage Models," Journal of Labor Economics, University of Chicago Press, vol. 21(3), pages 699-728, July.
    2. Derek Neal & Sherwin Rosen, 1998. "Theories of the Distribution of Labor Earnings," NBER Working Papers 6378, National Bureau of Economic Research, Inc.
    3. Heisz, Andrew & Oreopoulos, Philip, 2006. "Importance des signaux de competence pour l'obtention d'un emploi et de l'avancement," Direction des etudes analytiques : documents de recherche 2006236f, Statistics Canada, Direction des etudes analytiques.
    4. Alexander K. Koch & Eloïc Peyrache, 2011. "Aligning Ambition and Incentives," Journal of Law, Economics, and Organization, Oxford University Press, vol. 27(3), pages 655-688.
    5. 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.
    6. Baptista, Rui & Lima, Francisco & Preto, Miguel Torres, 2012. "How former business owners fare in the labor market? Job assignment and earnings," European Economic Review, Elsevier, vol. 56(2), pages 263-276.
    7. Heisz, Andrew & Oreopoulos, Philip, 2006. "The Importance of Signalling in Job Placement and Promotion," Analytical Studies Branch Research Paper Series 2006236e, Statistics Canada, Analytical Studies Branch.
    8. Gregory Dow, 2014. "Partnership markets with adverse selection," Review of Economic Design, Springer;Society for Economic Design, vol. 18(2), pages 105-126, June.
    9. Zamir Eyal & Medina Barak & Segal Uzi, 2014. "Who Benefits from the Uniformity of Contingent Fee Rates?," Review of Law & Economics, De Gruyter, vol. 9(3), pages 357-387, January.
    10. Koch, Alexander K. & Peyrache, Eloic, 2005. "Tournaments, Individualized Contracts and Career Concerns," IZA Discussion Papers 1841, Institute for the Study of Labor (IZA).
    11. Fang, Jieyan & Kempf, Alexander & Trapp, Monika, 2014. "Fund Manager Allocation," Journal of Financial Economics, Elsevier, vol. 111(3), pages 661-674.
    12. repec:eee:labchp:v:3:y:1999:i:pb:p:2373-2437 is not listed on IDEAS
    13. Jiawei Chen, 2006. "Two-Sided Matching and Spread Determinants in the Loan Market," Working Papers 060702, University of California-Irvine, Department of Economics.
    14. 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.

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