On Choice in Labor Markets

Classical theory on the market behavior of workers has been frequently criticized by labor economists as oversimplified and based on faulty assumptions. In particular, much of the recent empirical research on labor markets seems to have had as a main objective refutation of the traditional hypotheses regarding job choice by workers. In this article, the validity of the classical theory is defended, it being the author's view that modern research affirms, rather than refutes, the traditional analysis. (Author's abstract courtesy EBSCO.)