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The Supply of Labor

In: Rediscovering Social Economics

Author

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  • Roger D. Johnson

Abstract

The orderly Neoclassical graphs and utility functions used to derive labor supply curves assume the income/leisure substitution effect dominates household behavior even at low levels of income. Alternative behavioral-based observations, in contrast, imply that the income effect will dominate for people living in poverty and/or the presence of income-targeting behavior. The mathematics of the Neoclassical income/leisure trade-off model cannot account for this type of behavior without destroying the elegance that makes it such a useful pedagogical and analytical tool.

Suggested Citation

  • Roger D. Johnson, 2017. "The Supply of Labor," Perspectives from Social Economics, in: Rediscovering Social Economics, chapter 0, pages 105-120, Palgrave Macmillan.
    • Handle: RePEc:pal:pfschp:978-3-319-51265-5_8
    DOI: 10.1007/978-3-319-51265-5_8
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    Cited by:

    1. Christina Boll & Simone Schüller, 2021. "Shared Parenting and Parents’ Income Evolution after Separation: New Explorative Insights from Germany," SOEPpapers on Multidisciplinary Panel Data Research 1131, DIW Berlin, The German Socio-Economic Panel (SOEP).
    2. repec:ags:aaea22:335512 is not listed on IDEAS
    3. Chiara Mussida & Raffaella Patimo, 2018. "Women’s care responsibilities, employment and health: a two countries’ tale," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises141, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).

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