Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76073
Authors: 
Chen, Yu-Fu
Funke, Michael
Year of Publication: 
2002
Series/Report no.: 
CESifo Working Paper 732
Abstract: 
The standard literature on working time has modelled the decisions of firms in a deterministic framework in which firms can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we consider the impact of uncertainty and real options on the decision of working time, i.e. we examines the determinants of employment and hours in a stochastic framework. We conclude the theoretical analysis with a number of simulation exercises to illustrate the working of the model.
Subjects: 
real options
uncertainty
working time
employment
labor demand
Document Type: 
Working Paper

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