Thank you for your explanation. I would just like know, when migrants are risk averse, will the model be in equilibrium where expected urban income is sufficiently higher than the average rural income to cover for risk of being unemployed in the urban labour market?
Great explanation. Thank you
Thank you for your explanation. I would just like know, when migrants are risk averse, will the model be in equilibrium where expected urban income is sufficiently higher than the average rural income to cover for risk of being unemployed in the urban labour market?
Thank you Sir!
What are the merits and demerits of this Todaro Model.