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mm THE UNIVERSITY OF WESTERN Topic 5: Labour Supply AUSTRALIA Q. Why is it so difficult to catch a taxi in the rain? . Why
mm THE UNIVERSITY OF WESTERN Topic 5: Labour Supply AUSTRALIA Q. Why is it so difficult to catch a taxi in the rain? . Why should we care? . Intertemporal substitution hypothesis implies that the correlation between changes in hours of work and changes in wage should be positive. . Why taxi drivers? . Why rain? . Do we trust these data? . Is this economically rational? / Efficient? . Behavioral vs. neo-classical economics
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