The Demand for Legal Education
Robert Quinn and
Jamie Price Pelley
Additional contact information
Robert Quinn: Northern Michigan University
Jamie Price Pelley: Anovisions
Journal of Economic Insight (formerly the Journal of Economics (MVEA)), 2013, vol. 39, issue 2, 17-34
Although the demand for education is usually treated as human capital and thus as an investment good, some researchers have examined the consumption value of education. In 1998, we examined the demand for medical education using both a basic human capital model and an augmented human capital model with the results supporting the former. Our research into the demand for legal education expands this approach, using the number of LSAT exams administered each year as a proxy for law school demand. In addition to the human capital variables, our augmented model includes the standard variables of a traditional demand model—income and a substitute good (medical education)—as well as a political environment dummy variable. We estimate this model in both static and dynamic form. As with the demand for medical education, analysis shows that human capital variables, but not consumption variables, influence the demand for legal education.
JEL-codes: I21 J24 (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:mve:journl:v:39:y:2013:i:2:p:17-34
Access Statistics for this article
Journal of Economic Insight (formerly the Journal of Economics (MVEA)) is currently edited by Christopher Douglas and Joshua Lewer
More articles in Journal of Economic Insight (formerly the Journal of Economics (MVEA)) from Missouri Valley Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Ken Brown ().