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January 03, 2013

Comments

Richard Painter

The prestige chasing model is about the self interest of the professors not the students.

Ths same is true with corporations that chase prestige for their officers instead of value for shareholders and other constituents. With law schools, however, there are no hostile takover bids and there is no other market for corporate control. The stakeholders who foot the bill -- students and to some extent the legal profession -- have even less voice in management than shareholders do in a corporation.

Is any of this a surprise?

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