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Wiley InterScience | ||||||||||
  The Manchester SchoolVolume 73 Issue 5, Pages 612 - 619 Published Online: 12 Aug 2005 Journal compilation © 2010 Blackwell Publishing and The University of Manchester
Abstract | References | Full Text: PDF (Size: 94K) | Related Articles | Citation Tracking  ON LABOUR DEMAND AND EQUILIBRIA OF THE FIRM* Copyright Blackwell Publishing Ltd and The University of Manchester, 2005 ABSTRACTThis note considers a linear programming formulation of the problem of the firm. A neoclassical non-increasing labour demand function is derived from the solution of the linear program. Only a set of measure zero on this function, one or two points in the examples examined, provides equilibria of the representative firm. Equilibria of the representative firm are characterized by decisions of its managers that allow the same decisions to be made in successive periods. Hence, one can explain the quantity of labour that firms desire to hire either by a traditional neoclassical labour demand function or by equilibria of the firm, but generally not both. | 
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