The return to knowledge hierarchies
Luis Garicano
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The return to knowledge hierarchies
Published
2007
Publisher
National Bureau of Economic Research
Pages
63
Description
"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 "vertically specialize." We further find that it amplifies earnings inequality, increasing the ratio between the 95th and 50th percentiles from 3.7 to 4.8. We conclude that the impact of hierarchy on productivity and earnings distributions in this industry is substantial but not dramatic, reflecting the fact that the problems lawyers face are diverse and that the solutions tend to be customized"--National Bureau of Economic Research web site.
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Frequently Asked Questions
How many pages are in The return to knowledge hierarchies?
This edition of The return to knowledge hierarchies has approximately 63 pages. Please note, this is an estimate and the exact page count can vary between hardcover, paperback, and e-book versions.
How long does it take to read The return to knowledge hierarchies?
For most readers, The return to knowledge hierarchies typically takes between 1h 19m and 53m to complete. This is based on the book's length of approximately 15,750 words and common reading speeds.
Here's a detailed breakdown: • Continuous reading at 250 WPM: approximately 1h 3m of focused reading • Casual reading (30 minutes/day): you could finish in roughly 3 days • Estimated word count: 15,750 words
Your individual reading time will vary based on your personal reading pace, the amount of daily reading time, and your familiarity with the subject matter.
What is the word count of The return to knowledge hierarchies?
The estimated word count for The return to knowledge hierarchies is approximately 15,750 words. This figure is calculated using industry-standard methods that consider genre-specific word density patterns, typical formatting and layout characteristics, and standard words-per-page ratios for published books.
This is an approximation — actual word count may vary based on font size, formatting, edition, and the presence of illustrations or charts.
Who is the author of The return to knowledge hierarchies?
The return to knowledge hierarchies was written by Luis Garicano.
When was The return to knowledge hierarchies published?
The publication date for this specific edition is 2007. The original work may have been published on a different date.