Straight-Time and Overtime: A Sequential-Lottery Approach

Aleksandar Vasilev

Theoretical and Practical Research in the Economic Fields, 2016, vol. 7, issue 1, 81-84

Abstract: This note explores the problem of aggregation with non-convex labor supply decisions in an economy with both straight time and overtime. In contrast to Hansen and Sargent (1988), the paper models this as a sequential decision. Instead of changing from one to infinity, with a sequential non-convexity, the aggregate elasticity of labor supply for overtime work is a function of overall participation rate, and the aggregate elasticity of labor supply for full-time work depends on the share of workers doing overtime.

Date: 2016
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Related works:
Journal Article: Straight-time and Overtime: A Sequential-Lottery Approach (2016)
Working Paper: Straight-time and Overtime: A Sequential-Lottery Approach (2015)
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