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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
    DOI: 10.1086/298159
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    Citations

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    Cited by:

    1. 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.
    2. Linda Y. Wong, 2003. "Structural Estimation of Marriage Models," Journal of Labor Economics, University of Chicago Press, vol. 21(3), pages 699-728, July.
    3. Koch, Alexander K. & Peyrache, Eloic, 2005. "Tournaments, Individualized Contracts and Career Concerns," IZA Discussion Papers 1841, Institute of Labor Economics (IZA).
    4. Alexander K. Koch & Eloïc Peyrache, 2011. "Aligning Ambition and Incentives," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 27(3), pages 655-688.
    5. Fang, Jieyan & Kempf, Alexander & Trapp, Monika, 2014. "Fund Manager Allocation," Journal of Financial Economics, Elsevier, vol. 111(3), pages 661-674.
    6. 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.
    7. Pablo Casas‐Arce, 2010. "Career Tournaments," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 19(3), pages 667-698, September.
    8. Derek Neal & Sherwin Rosen, 1998. "Theories of the Distribution of Labor Earnings," NBER Working Papers 6378, National Bureau of Economic Research, Inc.
    9. Oreopoulos, Philip & Heisz, Andrew, 2006. "The Importance of Signalling in Job Placement and Promotion," Analytical Studies Branch Research Paper Series 2006236e, Statistics Canada, Analytical Studies Branch.
    10. Malmendier, Ulrike M. & Karsten, Christel & Sautner, Zacharias, 2020. "Lawyer Expertise and Contract Design – Evidence from M&A Negotiations," CEPR Discussion Papers 14936, C.E.P.R. Discussion Papers.
    11. 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.
    12. 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.
    13. 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.
    14. Samuel Schwarz & Paul J. Herskovitz & Deborah S. Kleiner, 1995. "Should a Lawyer Be Allowed in Small Claims Court? Some Empirical Light," The American Economist, Sage Publications, vol. 39(2), pages 65-67, October.
    15. David A. Hyman & Mohammad Rahmati & Bernard S. Black & Charles Silver, 2016. "Medical Malpractice Litigation and the Market for Plaintiff‐Side Representation: Evidence from Illinois," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 13(4), pages 603-636, December.
    16. repec:eee:labchp:v:3:y:1999:i:pb:p:2373-2437 is not listed on IDEAS
    17. Dow,Gregory K., 2019. "The Labor-Managed Firm," Cambridge Books, Cambridge University Press, number 9781107589650, September.
    18. Oreopoulos, Philip & Heisz, Andrew, 2006. "Importance des signaux de competence pour l'obtention d'un emploi et de l'avancement," Direction des études analytiques : documents de recherche 2006236f, Statistics Canada, Direction des études analytiques.
    19. Gregory Dow, 2014. "Partnership markets with adverse selection," Review of Economic Design, Springer;Society for Economic Design, vol. 18(2), pages 105-126, June.
    20. Jiawei Chen, 2006. "Two-Sided Matching and Spread Determinants in the Loan Market," Working Papers 060702, University of California-Irvine, Department of Economics.

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