THEORY OF INDIVIDUAL LABOUR SUPPLY DECISIONS, SELECTED APPLICATIONS AND EXTENSIONS OF THE BASIC MODEL
The article deals with a subject s decisions about his individual labour supply. It explains the development of this problem from the cardinalistic point of view, characteristic for marginalistic economists, concerning ordinalistic decision-making between consumption and free time. The gist of this contribution is extending the basic neo-classical model in the sense of analysing selected application cases. Considered to be one of the most important applications of this model, household decision-making about labour supply has been analysed. Shared childcare and running the household as a unit influences the labour supply of the family members.
disutility of labour, indifference analysis, reservation wage, household decisions
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