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Author: Andrew Postlewaite
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
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Book Description
We examine an economy in which the cost of consuming some goods can be reduced by making commitments that reduce flexibility. We show that such consumption commitments can induce consumers with risk-neutral underlying utility functions to be risk averse over small variations in income, but sometimes to seek risk over large variations. As a result, optimal employment contracts will smooth wages conditional on being employed, but may incorporate a possibility of unemployment.
Author: Andrew Postlewaite
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
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Book Description
We examine an economy in which the cost of consuming some goods can be reduced by making commitments that reduce flexibility. We show that such consumption commitments can induce consumers with risk-neutral underlying utility functions to be risk averse over small variations in income, but sometimes to seek risk over large variations. As a result, optimal employment contracts will smooth wages conditional on being employed, but may incorporate a possibility of unemployment.
Author: Andrew Postlewaite
Publisher:
ISBN:
Category :
Languages : en
Pages : 32
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Book Description
We examine an economy in which the cost of consuming some goods can be reduced by making commitments that reduce flexibility. We show that such consumption commitments can induce consumers with risk-neutral underlying utility functions to be risk averse over small variations in income, but sometimes to seek risk over large variations. As a result, optimal employment contracts will smooth wages conditional on being employed, but may incorporate a possibility of unemployment.
Author: John Maynard Keynes
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Bo Honoré
Publisher: Cambridge University Press
ISBN: 1108245668
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
This is the first of two volumes containing papers and commentaries presented at the Eleventh World Congress of the Econometric Society, held in Montreal, Canada in August 2015. These papers provide state-of-the-art guides to the most important recent research in economics. The book includes surveys and interpretations of key developments in economics and econometrics, and discussion of future directions for a wide variety of topics, covering both theory and application. These volumes provide a unique, accessible survey of progress on the discipline, written by leading specialists in their fields. The first volume includes theoretical and applied papers addressing topics such as dynamic mechanism design, agency problems, and networks.
Author:
Publisher:
ISBN:
Category : United States
Languages : en
Pages : 124
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Book Description
Author: Paul Ransome
Publisher: SAGE
ISBN: 1847871577
Category : Social Science
Languages : en
Pages : 224
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Book Description
The central question in Work, Consumption and Culture is whether consumption has now displaced production as the defining factor in the lives of those in the industrialized West. This book offers a comprehensive review of the key issues in the production/consumption debate, and where it might lead in the future. Key to Paul Ransome′s argument is the hypothesis that affluence is the crucial factor in the shift away from work and towards consumption. Uniquely emphasizing the links between work, consumption and culture, rather than keeping each element separate, the author looks at: - the changing significance of work in society - the meaning, growth and significance of affluence - the growing importance of consumption as a source of identity and its implications the impact of the shift to consumption on work/life balance Work, Consumption and Culture engages the reader with its lively debating style. It is an essential introduction for sociology and cultural studies students on courses relating to consumption and the role of work in contemporary society. `This book offers a balanced account of the changing importance of work and consumption in contemporary industrial society. Clearly written, the author identifies the central role that affluence plays in the relationship between work and consumption, and in the development of social life and individual identity′ - Professor Paul Blyton, Cardiff Business School
Author: New Zealand. Department of Labour
Publisher:
ISBN:
Category : Labor
Languages : en
Pages : 228
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Book Description
Author: United States. Bureau of Economic Analysis
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 204
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Book Description
Author: E. Olawale Ogunkola
Publisher:
ISBN:
Category : Commercial policy
Languages : en
Pages : 446
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Book Description
Author: American Society of Mechanical Engineers
Publisher:
ISBN:
Category : Mechanical engineering
Languages : en
Pages : 1612
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Book Description
