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Wage Satisfaction and Reference Wages

Author

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  • Claudia Senik

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

That wage satisfaction depends on reference wage is now an acquis of the empirical happiness literature. Employees care about their coworkers' wage. They compare to different notions of reference wage and suffer from disadvantageous comparisons, more than they enjoy advantageous ones. However, reference wage sometimes acts in a positive way, as a carrier of information. In terms of methods, the empirical literature has developed in three stages. First, it started by enquiring about the statistical association between a notion of reference wage (or reference income) as defined by researchers, and self-declared satisfaction. Second, some researchers tried to elicit the direction of income comparisons by including direct questions in large surveys of the population. Third, researchers attempted to provide experimental evidence of the causal effect of comparisons on satisfaction (beyond the simple statistical association) using natural, field, and lab experiments.

Suggested Citation

  • Claudia Senik, 2021. "Wage Satisfaction and Reference Wages," Post-Print halshs-03342815, HAL.
  • Handle: RePEc:hal:journl:halshs-03342815
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    Cited by:

    1. Mantilla, Cesar & Rincón, Ferley, 2022. "Mobility and productivity in a dual labor market: an experiment," OSF Preprints 5as84, Center for Open Science.

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