| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6124 |
| DP6124 Favouritism or Markets in Capital Allocation? | |
| Mariassunta Giannetti; Xiaoyun Yu | |
| 发表日期 | 2007-02-14 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Hierarchies allow individuals to leverage their knowledge through others' time. This mechanism increases productivity and amplifies the impact of skill heterogeneity on earnings inequality. To quantify this effect, we analyze the earnings and organization of U.S. lawyers and use the equilibrium model of knowledge hierarchies in Garicano and Rossi-Hansberg (2006) to assess how much lawyers' productivity and the distribution of earnings across lawyers reflects lawyers' ability to organize problem-solving hierarchically. We analyze earnings, organizational, and assignment patterns and show that they are generally consistent with the main predictions of the model. We then use these data to estimate the model. Our estimates imply that hierarchical production leads to at least a 30% increase in production in this industry, relative to a situation where lawyers within the same office do not |
| 主题 | Industrial Organization |
| 关键词 | Hedonics Hierarchy Matching Scale of operations effects Sorting Structural estimation |
| URL | https://cepr.org/publications/dp6124 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534962 |
| 推荐引用方式 GB/T 7714 | Mariassunta Giannetti,Xiaoyun Yu. DP6124 Favouritism or Markets in Capital Allocation?. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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