We model the supply of volunteer labor, which received an explicit wage of zero. Quantitatively important, it constituted over 5 percent of the entire labor supply in the United States in 1980. Both consumption and investment models are considered - the former positing volunteering as an ordinary consumer good, while the latter posits it as a means of obtaining on-the-job experience. Empirical estimation, based on survey data, discloses statistically significant effects of price and income variables on the supply of volunteer labor.
ASJC Scopus subject areas
- Economics and Econometrics