Vergalli, Sergio; Moretto, Michele - Fondazione ENI Enrico Mattei (FEEM) - 2005
This paper tries to explain why most migration flows show some observable jumps in their processes, a phenomenon that … seems to be sympathetic with the characteristic of irreversibility of migration. We present a real option model where the … probability of being fully integrated into the host country. The theoretical results show that the optimal migration decision of a …