Garicano, Luis; Hubbard, Thomas N. - London School of Economics and Political Science; … - 2008
Hierarchies allow individuals to leverage their knowledge through others` time.This mechanism increases productivity … andorganization of U.S. lawyers and use an equilibrium model of knowledge hierarchiesinspired by Garicano and Rossi-Hansberg (2006) to … ratio between the 95th and 50th percentiles from 3.7 to 4.8. We concludethat the impact of hierarchy on productivity and …