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Job satisfaction, time allocation and labour supply

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  • Gaetano Lisi

    (University of Cassino and Lazio Meridionale)

Abstract

This paper reinterprets the neoclassical theory of labour supply by introducing job satisfaction into the utility function of the worker. This integration is feasible and also straightforward from a theoretical point of view and, furthermore, it produces interesting results. Precisely, this extended version of the standard model of labour supply can describe situations in which working produces utility beyond consumption, with the result that the disutility of giving up leisure time is lowered or even reversed. As a result, the paper is able to reconcile the standard theory of labour supply with the well-established finding of happiness research, according to which working could yield substantial non-monetary benefits.

Suggested Citation

  • Gaetano Lisi, 2018. "Job satisfaction, time allocation and labour supply," Working Papers 2018-04, Universita' di Cassino, Dipartimento di Economia e Giurisprudenza.
    • Handle: RePEc:csn:wpaper:2018-04
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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