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Compensated Labor Supply Probabilities and Slutsky Elasticities in Discrete Labor Supply Models

This paper discusses the calculation of compensated choice probabilities in random utility models. The methodology of Compensating Variation and Compensated Choice Probability was developed recently by Dagsvik and Karlström (2005). In this paper we demonstrate how one can apply this methodology in practice. In particular, we compute compensated labor supply probabilities and Slutsky elasticities in a particular discrete labor supply mode

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Paper provided by University of Turin in its series Department of Economics and Statistics Cognetti de Martiis. Working Papers with number 201308.

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Length: 27 pages
Date of creation: Feb 2013
Date of revision:
Handle: RePEc:uto:dipeco:201308
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  1. John Creedy & Guyonne Kalb & Rosanna Scutella, 2003. "Discrete Hours Labour Supply Modelling: Specification, Estimation and Simulation," Melbourne Institute Working Paper Series wp2003n21, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  2. John K. Dagsvik & Anders Karlstr�m, 2005. "Compensating Variation and Hicksian Choice Probabilities in Random Utility Models that are Nonlinear in Income," Review of Economic Studies, Oxford University Press, vol. 72(1), pages 57-76.
  3. Steinar Str�m & John K. Dagsvik, 2006. "Sectoral labour supply, choice restrictions and functional form," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(6), pages 803-826.
  4. Daniel L. McFadden, 1976. "Quantal Choice Analaysis: A Survey," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 5, number 4, pages 363-390 National Bureau of Economic Research, Inc.
  5. John K. Dagsvik & Marilena Locatelli & Steinar Strøm, 2009. "Tax Reform, Sector-specific Labor Supply and Welfare Effects," Scandinavian Journal of Economics, Wiley Blackwell, vol. 111(2), pages 299-321, 06.
  6. Daniel McFadden, 1975. "The Revealed Preferences of a Government Bureaucracy: Theory," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 401-416, Autumn.
  7. Aaberge, Rolf & Dagsvik, John K & Strom, Steinar, 1995. " Labor Supply Responses and Welfare Effects of Tax Reforms," Scandinavian Journal of Economics, Wiley Blackwell, vol. 97(4), pages 635-59, December.
  8. Hausman, Jerry A., 1979. "The econometrics of labor supply on convex budget sets," Economics Letters, Elsevier, vol. 3(2), pages 171-174.
  9. van Soest, Arthur & Das, Marcel & Gong, Xiaodong, 2002. "A structural labour supply model with flexible preferences," Journal of Econometrics, Elsevier, vol. 107(1-2), pages 345-374, March.
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