Constrained labor supply and risk-aversion

Scott Drewianka

Economics Letters, 2008, vol. 101, issue 2, 130-133

Abstract: This paper extends previous work by showing that consumption constraints typically increase individuals' risk-aversion even if the illiquid good (e.g., leisure) has good substitutes. Calibrations indicate time-use constraints may raise risk-aversion considerably under many common scenarios.

Keywords: D810; J220; Risk-aversion; Labor; supply (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:101:y:2008:i:2:p:130-133

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