Adaptive Economizing, Technological Change, and the Demand for Labor in Disequilibrium

Richard H. Day and Kenneth Hanson
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Richard H. Day: Research Institute of Industrial Economics (IFN)

No 144, Working Paper Series from Research Institute of Industrial Economics

Abstract: An adaptive economizing framework is proposed for analyzing labor market aspects of long-term industrial development using a dynamic, disaggregate economic model based upon principles of bounded rationality and markets in disequilibrium. The approach is applied to a firm's investment-production planning problem to illustrate how labor demand is related to capital investment and technological change.

Keywords: Adaptive framework; labour market; industrial development; disequilibrium; investment-production planning (search for similar items in EconPapers)
JEL-codes: J20 O30 (search for similar items in EconPapers)
Pages: 36 pages
Date: 1985-07
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:iuiwop:0144

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