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Rat Races and Glass Ceilings: Career Paths in Organizations

  • Bardsley, P.
  • Sherstyuk, K.

In an ongoing organization, such as a large law parternship firm, employees are motivated not only by current rewards but also by the prospect of promotion, and the opportunity to influence policy and make the rules in the future. This leads to a dynamic programming problem in contract design. We model career design in such a firm as a recursive mechanism design problem in an overlapping generations environment.

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Paper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 825.

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Length: 31 pages
Date of creation: 2001
Date of revision:
Handle: RePEc:mlb:wpaper:825
Contact details of provider: Postal: Department of Economics, The University of Melbourne, 4th Floor, FBE Building, Level 4, 111 Barry Street. Victoria, 3010, Australia
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Web page: http://www.economics.unimelb.edu.au
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  1. Carr, Jack & Mathewson, Frank, 1990. "The Economics of Law Firms: A Study in the Legal Organization of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 33(2), pages 307-30, October.
  2. 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 417-41, July.
  3. O'Flaherty, B. & Siow, A., 1990. "Up or Out Rules in the Market for Lawers," University of Chicago - Economics Research Center 90-10, Chicago - Economics Research Center.
  4. Oded Galor & Nachum Sicherman, 1988. "A Theory of Career Mobility," University of Chicago - George G. Stigler Center for Study of Economy and State 51, Chicago - Center for Study of Economy and State.
  5. Francine D. Blau & Lawrence M. Kahn, 2000. "Gender Differences in Pay," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 75-99, Fall.
  6. Landers, Renee M & Rebitzer, James B & Taylor, Lowell J, 1996. "Rat Race Redux: Adverse Selection in the Determination of Work Hours in Law Firms," American Economic Review, American Economic Association, vol. 86(3), pages 329-48, June.
  7. Cremer, Jacques, 1986. "Cooperation in Ongoing Organizations," The Quarterly Journal of Economics, MIT Press, vol. 101(1), pages 33-49, February.
  8. Bardsley, P., 2001. "Recursive Contracts," Department of Economics - Working Papers Series 797, The University of Melbourne.
  9. Stoughton, Neal M & Talmor, Eli, 1999. "Managerial Bargaining Power in the Determination of Compensation Contracts and Corporate Investment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(1), pages 69-93, February.
  10. Feinberg, Robert M, 1994. "Paralegals and Associate Lawyers: Substitutability within the Law Firm, 1977-87," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 367-72, May.
  11. Stephen J. Spurr, 1990. "Sex discrimination in the legal profession: A study of promotion," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 43(4), pages 406-417, April.
  12. James Albrecht & Anders Bjorklund & Susan Vroman, 2003. "Is There a Glass Ceiling in Sweden?," Journal of Labor Economics, University of Chicago Press, vol. 21(1), pages 145-177, January.
  13. Beckmann, Martin J., 1984. "Hierarchy vs. partnership," Journal of Economic Behavior & Organization, Elsevier, vol. 5(2), pages 237-245, June.
  14. Christopher Ferrall, 1996. "Promotions and Incentives in Partnerships: Evidence from Major U.S. Law Firms," Canadian Journal of Economics, Canadian Economics Association, vol. 29(4), pages 811-27, November.
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