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Subjective Outcomes in Economics

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  • Daniel S. Hamermesh

    ()
    (University of Texas at Austin, Department of Economics, Austin, TX 78712 USA, National Bureau of Economic Research and Forshungsinstitut zur Zukunft der Arbeit)

Abstract

This study examines the various uses of subjective outcomes as a focus of interest for economists. It outlines the possible channels by which economists can usefully add to what is already a massive literature on such outcomes in the other social sciences. Generally, we contribute little if we merely engage in fancier empirical work and still less if we describe subjective outcomes by other subjective outcomes. Our biggest contributions can be in adducing economic theories that allow a better understanding of objective behavior using subjective outcomes, or of the determinants of subjective outcomes, or in understanding subjective outcomes, such as expectations, that underlie objective economic behavior. This was the Association Lecture delivered at the Southern Economic Association meetings, San Antonio, Texas, November 22, 2003.

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Bibliographic Info

Article provided by Southern Economic Association in its journal Southern Economic Journal.

Volume (Year): 71 (2004)
Issue (Month): 1 (July)
Pages: 2-11

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Handle: RePEc:sej:ancoec:v:71:1:y:2004:p:2-11

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  1. Bruno S. Frey & Alois Stutzer, 2002. "What Can Economists Learn from Happiness Research?," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 402-435, June.
  2. LEVY-GARBOUA, Louis & MONTMARQUETTE, Claude, 1997. "Reported Job Satisfaction : What Does It Mean?," Cahiers de recherche 9705, Universite de Montreal, Departement de sciences economiques.
  3. Kerwin Kofi Charles, 2002. "Is Retirement Depressing?: Labor Force Inactivity and Psychological Well-Being in Later Life," NBER Working Papers 9033, National Bureau of Economic Research, Inc.
  4. Lance Lochner, 2007. "Individual Perceptions of the Criminal Justice System," American Economic Review, American Economic Association, vol. 97(1), pages 444-460, March.
  5. Gardner, Jonathan & Andrew Oswald, 2002. "Does Money Buy Happiness? A Longitudinal Study Using Data on Windfalls," Royal Economic Society Annual Conference 2002 81, Royal Economic Society.
  6. Steven J. Haider & Melvin Stephens, 2007. "Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 247-264, May.
  7. DiTella, Rafael & MacCulloch, Robert & Oswald, Andrew J., 2001. "Preferences over inflation and unemployment: Evidence from surveys of happiness," ZEI Working Papers B 03-2001, ZEI - Center for European Integration Studies, University of Bonn.
  8. Kathleen McGarry, 2002. "Health and Retirement: Do Changes in Health Affect Retirement Expectations?," NBER Working Papers 9317, National Bureau of Economic Research, Inc.
  9. John Bound, 1991. "Self-Reported Versus Objective Measures of Health in Retirement Models," Journal of Human Resources, University of Wisconsin Press, vol. 26(1), pages 106-138.
  10. L. F. Jameson Boex, 2000. "Attributes of Effective Economics Instructors: An Analysis of Student Evaluations," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(3), pages 211-227, January.
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