FREE RIDING, SHIRKING, AND TEAM PRODUCTION IN LEGAL PARTNERSHIPS |
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Authors: | ARLEEN LEIBOWITZ ROBERT TOLLISON |
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Abstract: | A model of team production in legal partnerships, based on the Alchian-Demsetz theory of the firm, is developed and tested empirically in this paper. An estimate of the optimal law-firm size for controlling costly free riding behavior in partnerships is derived. Finally, some survivorship evidence on law-firm sizes, some comparisons of legal and medical group practices, and some thoughts on the role of the sole proprietor in the market for legal services are presented. |
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