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.
Working Paper No. 144
Adaptive Economizing, Technological Change, and the Demand for Labor in Disequilibrium
Working Paper
Reference
Day, Richard H. and Kenneth A. Hanson (1985). “Adaptive Economizing, Technological Change, and the Demand for Labor in Disequilibrium”. IFN Working Paper No. 144. Stockholm: Research Institute of Industrial Economics (IFN).
Day, Richard H. and Kenneth A. Hanson (1985). “Adaptive Economizing, Technological Change, and the Demand for Labor in Disequilibrium”. IFN Working Paper No. 144. Stockholm: Research Institute of Industrial Economics (IFN).
Authors
Richard H. Day,
Kenneth A. Hanson
