TY  - JOUR
AU  - Blinder,Alan S.
AU  - Weiss,Yoram
TI  - Human Capital and Labor Supply: A Synthesis
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 67
PY  - 1975
Y2  - 1975
UR  - http://www.nber.org/papers/w0067
L1  - http://www.nber.org/papers/w0067.pdf
N1  - Author contact info:
Alan S. Blinder
Department of Economics
Princeton University
Princeton, NJ 08544-1021
Tel: 609/258-3358
Fax: 609/258-5398
E-Mail: blinder@princeton.edu

Yoram Weiss
AB  - It is by now widely recognized that investment decisions play a major role in the determination of individual age-earnings profiles. The purpose of this paper is to present a simple life-cycle model of investment in human capital in which leisure choices are explicitly incorporated. In so doing, we integrate two previously disparate branches of life-cycle theory: models of labor supply with exogenous wages, and models of human capital formation with exogenous leisure.  Of course, to accomplish this, we must posit utility maximization as the individual's goal rather than income maximization.
ER  -