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Option Values, Switches and Wages - An Analysis of the Employment Guarantee Scheme in India.

Abstract:

Consistent with the theory of real options, it is argued that the value of the Employment Guarantee Scheme (EGS) in the Indian state of Maharashtra and its impact on workers’ behaviour do not depend so much on its income supplementation as on enlargement of opportunities in an uncertain environment of the local labour market. The choice between the EGS and other activities in rural areas is modelled in a dynamic optimisation framework that takes into account a fixed wage rate and certainty of...

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Authors


Pasquale Scandizzo More by this author
Raghav Gaiha More by this author
Katsushi Imai More by this author
Volume:
164
Series:
Discussion paper series
Publication date:
2003
URN:
uuid:281f999d-1259-44a1-b85d-e529e75addeb
Local pid:
ora:1203

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