Constrained labor supply and risk-aversion
This paper extends previous work by showing that consumption constraints typically increase individuals' risk-aversion even if the illiquid good (e.g., leisure) has good substitutes. Calibrations indicate time-use constraints may raise risk-aversion considerably under many common scenarios.
Year of publication: |
2008
|
---|---|
Authors: | Drewianka, Scott |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 101.2008, 2, p. 130-133
|
Publisher: |
Elsevier |
Subject: | D810 J220 Risk-aversion Labor supply |
Saved in:
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