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Relative Absence Concerns, Positional Consumption Preferences and Working Hours

In: Power and Responsibility

Author

Listed:
  • Laszlo Goerke

    (IAAEU—Trier University, GLO
    Institute for Labour Law and Industrial Relations in the European Union - Trier University)

Abstract

Positional income or consumption preferences can induce individuals to work too much to enhance their relative standing. Empirical evidence suggests that people are also characterised by relative considerations with respect to sickness-related absence from work. We analyse theoretically how relative consumption and absence concerns interact. Although relative absence concerns may mitigate the consequences of relative consumption preferences, the market outcome will never be efficient. Hence, we derive the income tax rate and the level of sick pay which induce efficient behaviour as the market outcome.

Suggested Citation

  • Laszlo Goerke, 2023. "Relative Absence Concerns, Positional Consumption Preferences and Working Hours," Springer Books, in: Martin A. Leroch & Florian Rupp (ed.), Power and Responsibility, pages 47-74, Springer.
  • Handle: RePEc:spr:sprchp:978-3-031-23015-8_4
    DOI: 10.1007/978-3-031-23015-8_4
    as

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