Market and regulatory forces in the pricing of legal services

New data on individual law firms and attorneys is used to examine the effects of professional licensing restrictions and market forces on prices of legal services. The data allow detailed testing of the hypothesis that licensing restrictions serve to increase the price of professional services as well as the incomes of those providing these services. In general, little support is found for this hypothesis. Instead, the estimates show that market forces are most important in explaining variations in prices and attorney incomes.Dean Lueck is on leave from Louisiana State University. We thank William Boiger, Executive Director of the National Resource Center for Consumers of Legal Services, for providing data on law firms. Andrew Dick, Philip Hersch, Andy Kleit, Bill Kovacic, Fred McChesney, Jeff Moore, and two anonymous referees provided helpful comments on earlier versions. Chris Diener, Jim Larkins, Robert Pace, and Darrin Timothy provided research assistance.     

投机和新金融秩序

本文批评了传统的金融理论,并通过世界主要股市的数据说明金融风险和泡沫是存在的。同时,根据市盈率和10年后收入之间的关系,作者认为股市的走势是可以预测的。作者认为,造成股市非理性繁荣的因素包括结构因素、文化因素以及心理因素。要减少风险就需要激进的金融改革。     

Encouraging Best Practice in Quantitative Management Research: An Incomplete List of Opportunities*

abstract The paper identifies some common problems encountered in quantitative methodology and provides information on current best practice to resolve these problems. We first discuss issues pertaining to variable measurement and concerns regarding the underlying relationships among variables. We then highlight several advances in estimation methodology that may circumvent issues encountered in common practice. Finally, we discuss approaches that move beyond existing research designs, including the development and use of datasets that embody linkages across levels of analysis, or combine qualitative and quantitative methods.     

Narrating the Power of Non‐Standard Employment: The Case of the Israeli Public Sector*

abstract Applying a critical discourse analysis approach, this study shows how the argument equating non‐standard employment (NSE) with organizational efficiency gains dominance over the contesting argument that views NSE as reducing organizational efficiency. We interviewed 24 senior‐level HR managers in the Israeli public sector, where NSE is used extensively, in order to shed light on the discursive order and the power struggle between these contesting arguments. Findings point to two story‐lines that helped discredit the argument in which NSE reduces organizational efficiency: (1) a statement of loyalty to organizational efficiency, accompanied by a gesture of concern for employees in non‐standard arrangements; and (2) subordinating an implied preference for eliminating NSE to organizational constraints.