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Nonpecuniary Rewards in the Workplace: Demand Estimates Using Quasi-market Data

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  • Cavalluzzo, Linda C

Abstract

Lack of explicit markets and associated data have impeded measurement of nonpecuniary rewards in the workplace. Most of the published literature employs hedonic models that permit estimation of market-clearing prices, but do not allow for identification of demand schedules. In an alternative approach, used successfully by environmental economists, the author develops quasi-market data and uses it to estimate demand for the nonpecuniary rewards associated with leadership. In addition to price responsiveness, individuals exhibit tastes for the amenities of leadership that differ substantially, and in expected directions, with their personal and professional characteristics. Copyright 1991 by MIT Press.

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  • Cavalluzzo, Linda C, 1991. "Nonpecuniary Rewards in the Workplace: Demand Estimates Using Quasi-market Data," The Review of Economics and Statistics, MIT Press, vol. 73(3), pages 508-512, August.
    • Handle: RePEc:tpr:restat:v:73:y:1991:i:3:p:508-12
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    Cited by:

    1. Key, Nigel D., 2002. "How Much Do Farmers Value Their Independence? Estimating The Risk And Autonomy Premia Associated With Production Contracts," 2002 Annual meeting, July 28-31, Long Beach, CA 19688, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Scott, Anthony, 2001. "Eliciting GPs' preferences for pecuniary and non-pecuniary job characteristics," Journal of Health Economics, Elsevier, vol. 20(3), pages 329-347, May.

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