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A Reexamination on the Theory of Labor Supply with Wage Rate Uncertainty
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- Authors
- Issue Date
- 1994-01
- Citation
- Seoul Journal of Economics, Vol.7 No.1, pp. 23-34
- Abstract
- This paper presents a unified reinterpretation of conditions preference derived by a decomposition of the effect of an increase in wage rate risk on labor supply. The compensated effect of risk that keeps expected utility constant is analyzed. The result of this analysis shows that preference conditions sufficient to determine the comparative static effects of risk on labor supply can be expressed in terms of the measure of endogenous partial risk aversion and the wage elasticities for labor supply.
- ISSN
- 1225-0279
- Language
- English
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