Editing Harris–Todaro model (section)

{{Short description|Economic model}}
The '''Harris–Todaro model''', named after [[John R. Harris]] and [[Michael Todaro]], is an economic model developed in 1970 and used in [[development economics]] and [[welfare economics]] to explain some of the issues concerning rural-urban [[Human migration|migration]]. The main assumption of the model is that the migration decision is based on ''expected'' income differentials between rural and urban areas rather than just wage differentials. This implies that rural-urban migration in a context of high urban unemployment can be economically rational if expected urban income exceeds expected rural income.