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- W2083313555 abstract "Abstract This paper presents some of the implications of modern portfolio theory for the equilibrium structure of wages under conditions of uncertainty. The primary model presented is a model of wage uncertainty and hence the equilibrium structure is derived in terms of expected wages. The equilibrium structure with the assumption of a perfect labor market (e.g., labor units are infinitely divisible and costlessly mobile) and a perfect capital market is shown to have a very simple linear form. The model assumes homogeneous labor units as well as the usual single-period capital asset pricing model assumptions." @default.
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- W2083313555 date "1974-05-01" @default.
- W2083313555 modified "2023-09-27" @default.
- W2083313555 title "Portfolio theory, job choice and the equilibrium structure of expected wages" @default.
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- W2083313555 doi "https://doi.org/10.1016/0304-405x(74)90007-5" @default.
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