Strategic Household Behavior in Labor Surplus Economies

Raul Fabella

Philippine Review of Economics, 1991, vol. 28, issue 2, 119-126

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.

Date: 1991
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