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Life Satisfaction Differences between Workers and Non-Workers - The Value of Participation per se

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Author Info
Bernard M.S. van Praag () (Faculty of Economics and Econometrics, University of Amsterdam)
Ada Ferrer-i-Carbonell () (Faculty of Economics and Econometrics, University of Amsterdam)

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Abstract

Is working more than monetary income? This paper attempts to give an answer to this question on the basis of the German Socio-economic Panel data set. By comparing the satisfaction with life between workers and non-workers with the same household income, the monetary value of participating in the labour force is assessed. It is found that this monetary value is substantial for many individuals and that it varies strongly with personal characteristics such as age and gender.Women suffer less than men when loosing their job. Individuals about 65 and over do not seem to attach much value to working besides the income it generates.

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Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 02-018/3.

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Date of creation: 15 Feb 2002
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Handle: RePEc:dgr:uvatin:20020018

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Related research
Keywords: Employment; Satisfaction; Subjective labour costs; Unemployment;

Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models
J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. David G. Blanchflower & Andrew J. Oswald, 2000. "Well-Being Over Time in Britain and the USA," NBER Working Papers 7487, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Oswald, Andrew, 1997. "Happiness and Economic Performance," The Warwick Economics Research Paper Series (TWERPS) 478, University of Warwick, Department of Economics. [Downloadable!]
    Other versions:
  3. Rafael Di Tella & Robert J. MacCulloch & Andrew J. Oswald, 2001. "Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness," American Economic Review, American Economic Association, vol. 91(1), pages 335-341, March. [Downloadable!] (restricted)
  4. Bruno S. Frey & Alois Stutzer, 1999. "Measuring Preferences by Subjective Well-Being," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(4), pages 755-778, December. [Downloadable!] (restricted)
  5. Clark, Andrew E. & Oswald, Andrew J., 1998. "Comparison-concave utility and following behaviour in social and economic settings," Journal of Public Economics, Elsevier, vol. 70(1), pages 133-155, October. [Downloadable!] (restricted)
  6. Clark, Andrew E., 1997. "Job satisfaction and gender: Why are women so happy at work?," Labour Economics, Elsevier, vol. 4(4), pages 341-372, December. [Downloadable!] (restricted)
    Other versions:
  7. Frey, Bruno S. & Stutzer, Alois, 2000. "Happiness, Economy and Institutions," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  8. Clark, Andrew E & Oswald, Andrew J, 1994. "Unhappiness and Unemployment," Economic Journal, Royal Economic Society, vol. 104(424), pages 648-59, May. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michael Rosholm & Rune M. Vejlin, 2007. "Reducing Income Transfers to Refugee Immigrants: Does Starthelp Help You Start?," IZA Discussion Papers 2720, Institute for the Study of Labor (IZA). [Downloadable!]
  2. Finbarr Brereton & J. Peter Clinch & Susana Ferreira, 2008. "Employment and Life-Satisfaction: Insights from Ireland," The Economic and Social Review, Economic and Social Studies, vol. 39(3), pages 207-234. [Downloadable!]
  3. Noelia Somarriba Arechavala & Bernardo Pena Trapero, 2008. "Quality Of Life And Subjective Welfare In Europe: An Econometric Analysis," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 8(2), pages 55-66. [Downloadable!] (restricted)
  4. Katrin Rehdanz & David J. Maddison, 2003. "Climate and Happiness," Working Papers FNU-20, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2003. [Downloadable!]
    Other versions:
  5. Divine Ikenwilo & Anthony Scott, 2007. "The effects of pay and job satisfaction on the labour supply of hospital consultants," Health Economics, John Wiley & Sons, Ltd., vol. 16(12), pages 1303-1318. [Downloadable!]
  6. Esperanza Vera-Toscano & Victoria Ateca-Amestoy & Rafael Serrano-del-Rosal, 2004. "Building Financial Satisfaction," IESA Working Papers Series 0412, Institute for Social Syudies of Andalusia - Higher Council for Scientific Research. [Downloadable!]
  7. Friedrich Breyer, 2003. "Lohnabstandsgebot und Anspruchslohn: zu den Vorschlägen einer Sozialhilfereform," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 72(1), pages 83-93.
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