Advanced Search
MyIDEAS: Login to save this paper or follow this series

Labor Supply of New York City Cab Drivers: One Day At A time

Contents:

Author Info

  • Camerer, Colin
  • Babcock, Linda
  • Loewenstein, George
  • Thaler, Richard

Abstract

Life-cycle models of labor supply predict a positive relationship between hours supplied and transitory changes in wages. The authors tested this prediction using three samples of wages and hours of New York City cabdrivers, whose wages are correlated within days but uncorrelated between days. Estimated wage elasticities are significantly negative in two out of three samples. Elasticities of inexperienced drivers average approximately -1 and are less than zero in all three samples (and significantly less than for experienced drivers in two of three samples). Their interpretation of these findings is that cabdrivers (at least inexperienced ones): (i) make labor supply decisions 'one day at a time' instead of intertemporally substituting labor and leisure across multiple days, and (ii) set a loose daily income target and quit working once they reach that target. Coauthors are Linda Babcock, George Loewenstein, and Richard Thaler. Copyright 1997, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

(This abstract was borrowed from another version of this item.)

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.hss.caltech.edu/SSPapers/sswp960c.pdf
Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (Victoria Mason)
Download Restriction: no

Bibliographic Info

Paper provided by California Institute of Technology, Division of the Humanities and Social Sciences in its series Working Papers with number 960.

as in new window
Length:
Date of creation: Apr 1996
Date of revision:
Publication status: Published: Quarterly Journal of Economics, 1997, V. 112, #2 (May):408-441.
Handle: RePEc:clt:sswopa:960

Contact details of provider:
Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
Phone: 626 395-4065
Fax: 626 405-9841
Email:
Web page: http://www.hss.caltech.edu/ss

Order Information:
Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
Email:

Related research

Keywords:

Other versions of this item:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.

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:clt:sswopa:960. 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: (Victoria Mason).

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.