Advanced Search
MyIDEAS: Login to save this article or follow this journal

The immaterial sustenance of work and leisure: A new look at the work–leisure model

Contents:

Author Info

  • Sherman, Arie
  • Shavit, Tal
Registered author(s):

    Abstract

    We introduce a model of labor supply that considers the immaterial sustenance value of work per se. We suggest that people ask for compensation when increasing work hours but also when reducing work hours even when continuing to work part-time. Based on survey results, we show that the reference point (the worker's actual position) is important, and has an effect on the requested compensation when increasing or decreasing the number of hours worked. We find that the requested compensation is neither linear and nor symmetrical, and suggest that welfare policy should take the immaterial sustenance into account.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.sciencedirect.com/science/article/pii/S1053535713000978
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

    Volume (Year): 46 (2013)
    Issue (Month): C ()
    Pages: 10-16

    as in new window
    Handle: RePEc:eee:soceco:v:46:y:2013:i:c:p:10-16

    Contact details of provider:
    Web page: http://www.elsevier.com/locate/inca/620175

    Related research

    Keywords: Leisure; Loss aversion; Reference point; Relative compensation; Work;

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Lane, Robert E., 1992. "Work as "disutility" and money as "happiness": Cultural origins of a basic market error," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 21(1), pages 43-64.
    2. Alison L. Booth & Jan C. Van Ours, 2009. "Hours of Work and Gender Identity: Does Part-time Work Make the Family Happier?," Economica, London School of Economics and Political Science, vol. 76(301), pages 176-196, 02.
    3. Booth, Alison L. & van Ours, Jan C., 2007. "Job Satisfaction and Family Happiness: The Part-time Work Puzzle," IZA Discussion Papers 3020, Institute for the Study of Labor (IZA).
    4. Florencia López Bóo & Lucía Madrigal & Carmen Pagés-Serra, 2009. "Part-Time Work, Gender and Job Satisfaction: Evidence from a Developing Country," IDB Publications 4131, Inter-American Development Bank.
    5. Bruno S. Frey, 2008. "Happiness: A Revolution in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262062771, December.
    6. Tversky, Amos & Kahneman, Daniel, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, MIT Press, vol. 106(4), pages 1039-61, November.
    7. Altman, Morris, 2001. "A behavioral model of labor supply: casting some light into the black box of income-leisure choice," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(3), pages 199-219, May.
    8. Rafael Di Tella & Robert J. MacCulloch & Andrew J. Oswald, 2003. "The Macroeconomics of Happiness," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 809-827, November.
    9. Robert Moffitt, 2002. "Welfare Programs and Labor Supply," NBER Working Papers 9168, National Bureau of Economic Research, Inc.
    10. Layard, Richard & Nickell, Stephen & Jackman, Richard, 1991. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780198284345, September.
    11. Carola Grün & Wolfgang Hauser & Thomas Rhein, 2010. "Is Any Job Better than No Job? Life Satisfaction and Re-employment," Journal of Labor Research, Springer, vol. 31(3), pages 285-306, September.
    12. Sherman, Arie & Shavit, Tal, 2009. "Welfare to work and work to welfare: the effect of the reference point -- a theoretical and experimental study," Economics Letters, Elsevier, vol. 105(3), pages 290-292, December.
    13. Meier, Stephan & Stutzer, Alois, 2004. "Is Volunteering Rewarding in Itself?," IZA Discussion Papers 1045, Institute for the Study of Labor (IZA).
    14. Daniel Kahneman & Alan B. Krueger & David Schkade & Norbert Schwarz & Arthur Stone, 2004. "Toward National Well-Being Accounts," American Economic Review, American Economic Association, vol. 94(2), pages 429-434, May.
    15. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
    16. Johnson, Eric J, et al, 1993. " Framing, Probability Distortions, and Insurance Decisions," Journal of Risk and Uncertainty, Springer, vol. 7(1), pages 35-51, August.
    17. Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo Group Munich.
    18. Samuelson, William & Zeckhauser, Richard, 1988. " Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
    19. Robert J. MacCulloch & Rafael Di Tella & Andrew J. Oswald, 2001. "Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness," American Economic Review, American Economic Association, vol. 91(1), pages 335-341, March.
    20. Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    21. Franz Hackl & Martin Halla & Gerald J Pruckner, 2004. "The fallacy of the Good Samaritan: Volunteering as a weird way of making money," Economics working papers 2004-15, Department of Economics, Johannes Kepler University Linz, Austria.
    22. Jan Boone & Jan C. van Ours, 2006. "Modeling Financial Incentives to Get the Unemployed Back to Work," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 162(2), pages 227-252, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:eee:soceco:v:46:y:2013:i:c:p:10-16. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.