The counter view calls into question free market assumptions of rationality and factor
mobility, based on observations of behaviour in the real world.Whatever their current job
prospects, some individuals may be unwilling or unable to move to another locality because
of social ties, or the cost of moving, or inappropriate skills or a lack of knowledge of job
opportunities. Firms similarly may be reluctant to relocate because of the costs involved or
the preferences of the owner(s), or some other imperfection in the marketplace