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Strategic Household Behavior in Labor Surplus Economies

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  • Raul V. Fabella

    (School of Economics, University of the Philippines Diliman)

Abstract

We show that when households employ the Cournat-Nash strategy in labor surplus economies, the wage rate is strictly positive, households are underemployed, household members may be openly unemployed, the labor supply curve is upward-sloping and household withdrawal but not worker withdrawal decreases output.

Suggested Citation

  • Raul V. Fabella, 1991. "Strategic Household Behavior in Labor Surplus Economies," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 28(2), pages 119-126, December.
    • Handle: RePEc:phs:prejrn:v:28:y:1991:i:2:p:119-126
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/255/440
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