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A Neglected Ricardian Aspect Of Labor Supply

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  • Adams, James D.

Abstract

Consider a labor market, or closely related set of such markets, in which a labor service is sold to buyers with differing characteristics, who combine it with other inputs to manufacture consumer's or producer's goods. We assume (and it is a crucial assumption) the service to be tied to, or embodied in, the buyers. We refer.to the service as an embodied labor service, to Indicate the Impossibility of resale. The question arises, how do suppliers distribute themselves among buyers? What factors determine trading with a larger number of demanders more extensively, as opposed to a smaller number more intensively? The problem bears a resemblance to Rlcardo's famous analysis of the cultivation of land, here, an individual buyer represents the Intensive margin, and the number of buyers a supplier deals with, the extensive margin, but the analogous issue remains, whether to trade more intensively or more extensively.

Suggested Citation

  • Adams, James D., 1976. "A Neglected Ricardian Aspect Of Labor Supply," ISU General Staff Papers 197601010800001045, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:197601010800001045
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    References listed on IDEAS

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    1. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
    2. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
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    5. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
    6. Michael Grossman, 1972. "The Demand for Health: A Theoretical and Empirical Investigation," NBER Books, National Bureau of Economic Research, Inc, number gros72-1.
    7. H. S. Houthakker, 1952. "Compensated Changes in Quantities and Qualities Consumed," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 19(3), pages 155-164.
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