Nonconvexity in General Equilibrium Labor Markets

Jeffrey Coles

Journal of Labor Economics, 1986, vol. 4, issue 3, 415-37

Abstract: The classic case of nonconvexity in consumer opportunities is that of labor supply. While most studies of labor supply concentrate on the individual agent in partial equilibrium, this study considers general equilibrium. The author shows that even with nonconvex consumer opportunities, such as those involved in the labor supply decision, the standard theorems of general equilibrium models still hold. Copyright 1986 by University of Chicago Press.

Date: 1986
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