Migration In A Stochastic Environment:An Extension Of The Harris And Todaro Model Based On The Optimal Stopping Theory
Journal Title: International Journal Of Management And Economics Invention - Year 2015, Vol 1, Issue 7
Abstract
The present paper constructs an extended HarrisTodaro model that incorporates environmental stock, by making use of the optimal stopping theory, to examine the properties of migration in an economy where environment fluctuates stochastically. It is revealed that if uncertainty of environment in the rural area increases,
Authors and Affiliations
Yasunori Fujita
Keywords
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