Project Management

Dynamic Model Of Arts Labor Supply

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Executive Summary

It is well known, from earlier works and researches on labor supply, that whenever workers derive satisfaction from the process of work, some traditional results about labor supply are reversed. Work of artists is most famous example of this phenomenon. It is noticed, for example, that whenever non-arts wages increase, relative to arts wages, the supply of labor in the arts market increases relatively to non-arts market. This, obviously, contradict to what one would expect relying on traditional approach.

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