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Well-being and Trust in the Workplace

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  • John F. Helliwell
  • Haifang Huang

Abstract

This paper summarizes and extends our recent work using life satisfaction regressions to estimate the relative values of financial and non-financial job characteristics. The well-being results show strikingly large values for non-financial job characteristics, especially workplace trust and other measures of the quality of social capital in workplaces. For example, an increase of trust in management that is about one tenth of the scale is equivalent to more than 30% increase in monetary income. We find that these values differ significantly by gender and by union status. We consider the reasons for such large values, and explore their implications for employers, employees, and policy-makers.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14589.

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Date of creation: Dec 2008
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Publication status: published as John Helliwell & Haifang Huang, 2011. "Well-Being and Trust in the Workplace," Journal of Happiness Studies, Springer, vol. 12(5), pages 747-767, October.
Handle: RePEc:nbr:nberwo:14589

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  1. Ernesto Villanueva, 2004. "Compensating wage differentials and voluntary job changes: Evidence from West Germany," Economics Working Papers 738, Department of Economics and Business, Universitat Pompeu Fabra.
  2. Bernard M.S. van Praag & Barbara E. Baarsma, 2004. "Using Happiness Surveys to Value Intangibles: The Case of Airport Noise," CESifo Working Paper Series 1163, CESifo Group Munich.
  3. John F. Heliwell & Haifang Huang, 2005. "How's the Job? Well-Being and Social Capital in the Workplace," NBER Working Papers 11759, National Bureau of Economic Research, Inc.
  4. Alex Bryson & Lorenzo Cappellari & Claudio Lucifora, 2003. "Does Union Membership Really Reduce Job Satisfaction?," CEP Discussion Papers dp0569, Centre for Economic Performance, LSE.
  5. StÈphane Bonhomme & GrÈgory Jolivet, 2009. "The pervasive absence of compensating differentials," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(5), pages 763-795.
  6. Clark, A.E., 1995. "Job Satisfaction and Gender: Why Are Women so Happy at Work?," DELTA Working Papers 95-10, DELTA (Ecole normale supérieure).
  7. Böckerman, Petri & Ilmakunnas, Pekka, 2007. "Job disamenities, job satisfaction, quit intentions, and actual separations: putting the pieces together," MPRA Paper 3245, University Library of Munich, Germany.
  8. Thomas Cornelißen, 2009. "The Interaction of Job Satisfaction, Job Search, and Job Changes. An Empirical Investigation with German Panel Data," Journal of Happiness Studies, Springer, vol. 10(3), pages 367-384, June.
  9. Clark, Andrew E., 2001. "What really matters in a job? Hedonic measurement using quit data," Labour Economics, Elsevier, vol. 8(2), pages 223-242, May.
  10. Hwang, Hae-shin & Reed, W Robert & Hubbard, Carlton, 1992. "Compensating Wage Differentials and Unobserved Productivity," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 835-58, August.
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Cited by:
  1. Pawlowski, Tim & Downward, Paul & Rasciute, Simona, 2014. "Does national pride from international sporting success contribute to well-being? An international investigation," Sport Management Review, Elsevier, vol. 17(2), pages 121-132.
  2. Laibson, David I. & Agarwal, Sumit & Driscoll, John C. & Gabaix, Xavier, 2009. "The Age of Reason: Financial Decisions over the Life-Cycle with Implications for Regulation," Scholarly Articles 4554335, Harvard University Department of Economics.
  3. John Helliwell & Shun Wang, 2014. "Weekends and Subjective Well-Being," Social Indicators Research, Springer, vol. 116(2), pages 389-407, April.
  4. Silvia Sacchetti & Ermanno Tortia, 2013. "Satisfaction with Creativity: A Study of Organizational Characteristics and Individual Motivation," Journal of Happiness Studies, Springer, vol. 14(6), pages 1789-1811, December.

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