This paper discusses aspects of a framework for modeling labor supply where the notion of job choice is fundamental. In this framework, workers are assumed to have preferences over latent job opportunities belonging to worker-specific choice sets from which they choose their preferred job. The...

This paper discusses the problem of specifying probabilistic models for choices (strategies) with uncertain outcomes. The most general case we consider is choice settings where the uncertain outcomes are sets which may contain more than one alternative. This is of interest for the following type...

This paper discusses the problem of specifying probabilistic models for choices (strategies) with uncertain outcomes. The point of departure is an extension of the axiom system of the von Neumann-Morgenstern Expected utility theory to the case when the preferences are stochastic. This extended...

This paper discusses aspects of a framework for modeling labor supply where the notion of job choice is fundamental. In this framework, workers are assumed to have preferences over latent job opportunities belonging to worker-specific choice sets from which they choose their preferred job. The...

Models of labor supply derived from stochastic utility representations and discretized sets of feasible hours of work have gained popularity because they are more practical than the standard approaches based on marginal calculus. In this paper we argue that practicality is not the only feature...

This paper discusses the problem of specifying probabilistic models for choices (strategies) with uncertain outcomes. The point of departure is an extension of the axiom system of the von Neumann-Morgenstern Expected utility theory to the case when the preferences are stochastic. This extended...

In this paper, we discuss aspects of a particular framework for modeling labor supply and the application of this approach in practical policy simulation experiments. This modeling framework differs from the standard models of labor supply in that the notion of job choice is fundamental....

Traditional labor supply analysis is based on the assumption that workers only have preferences over consumption and hours of work, and are able to choose consumption and hours freely within the budget constraint. Recently, various discrete choice versions of the traditional approach (with...

This paper discusses the problem of specifying probabilistic models for choices (strategies) with uncertain outcomes. The most general case we consider is choice settings where the uncertain outcomes are sets which may contain more than one alternative. This is of interest for the following type...

This paper discusses aspects of a framework for modeling labor supply where the notion of job choice is fundamental. In this framework, workers are assumed to have preferences over latent job opportunities belonging to worker-specific choice sets from which they choose their preferred job. The...