Herd Behaviour in Occupational Choice
In this paper we examine why many professional labor markets are disturbed by cycles in the supply of new workers. We present a model where cycles in labor supply are the consequence of herd behavior in occupational choice. We also present evidence from nearly 150 West German labor markets which supports the herd behavior model of labor supply cycles.
|Date of creation:||04 Jun 2003|
|Date of revision:|
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