Social Sciences
4 years ago

Uncovering Hidden Preferences Could Revolutionize Labor Supply Models.

SSRN Electronic Journal
On the Role of Unobserved Preference Heterogeneity in Discrete Choice Models of Labour Supply
Daniele Pacifico

Paper Summary

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The article examines how hidden differences in people's preferences affect choices about work. Researchers compared different ways to estimate these hidden differences and found that the results change only when the varying tastes are completely unknown.