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We're just doing substitution
effects.
That's ambiguous.
The question is, if they work
less, what do they do?
Whereas think about a married
women 40 years ago.
If she works less,
what does she do?
What does a married man do?
Nothing.
There's nothing to do.
Your friends are all at work.
You can't go play golf.
You can't do anything.
You don't take care of kids,
because men didn't take care
of kids 40 years ago.
What do you do?
There's nothing to do.
Whereas a woman, married woman,
if the wage goes down
40 years ago, you can take
care of kids instead.
You can hang out with other
women who aren't working.
There's plenty to do.
Based on that, now change
your answer.
Where do you think
the substitution
effect would be bigger?
AUDIENCE: [INAUDIBLE PHRASE].
PROFESSOR: In women,
it would be bigger.
Because men, there's less of
a substitution effect.
Because it's all about
substitutability of options.
There's no good alternative
option to work for
men 40 years ago.
It's either work or nothing.
Basically, everybody worked.
So, basically, there's
no good substitution
effect option for men.
For women, there's lots
of outside options.
There's sociability, there's
child rearing, et cetera.
The substitution effect will
be larger the more things
there are you can
substitute to.
Men don't have anything to
substitute to from work.
Women have options to substitute
to from work.
For men, this is going
to be very small.