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The immaterial sustenance of work and leisure: A new look at the work–leisure model

  • Sherman, Arie
  • Shavit, Tal
Registered author(s):

    We introduce a model of labor supply that considers the immaterial sustenance value of work per se. We suggest that people ask for compensation when increasing work hours but also when reducing work hours even when continuing to work part-time. Based on survey results, we show that the reference point (the worker's actual position) is important, and has an effect on the requested compensation when increasing or decreasing the number of hours worked. We find that the requested compensation is neither linear and nor symmetrical, and suggest that welfare policy should take the immaterial sustenance into account.

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    File URL: http://www.sciencedirect.com/science/article/pii/S1053535713000978
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    Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

    Volume (Year): 46 (2013)
    Issue (Month): C ()
    Pages: 10-16

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    Handle: RePEc:eee:soceco:v:46:y:2013:i:c:p:10-16
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/620175

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    1. Lane, Robert E., 1992. "Work as "disutility" and money as "happiness": Cultural origins of a basic market error," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 21(1), pages 43-64.
    2. Alison L. Booth & Jan C. van Ours, 2007. "Job Satisfaction and Family Happiness: The Part-time Work Puzzle," Department of Economics - Working Papers Series 1000, The University of Melbourne.
    3. Di Tella, Rafael & MacCulloch, Robert J. & Oswald, Andrew J., 2001. "The Macroeconomics of Happiness," The Warwick Economics Research Paper Series (TWERPS) 615, University of Warwick, Department of Economics.
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    5. Franz Hackl & Martin Halla & Gerald J. Pruckner, 2007. "Volunteering and Income - The Fallacy of the Good Samaritan?," Kyklos, Wiley Blackwell, vol. 60(1), pages 77-104, 02.
    6. Alison Booth & Jan van Ours, 2005. "Hours of Work and Gender Identity: Does Part-time Work Make the Family Happier?," CEPR Discussion Papers 507, Centre for Economic Policy Research, Research School of Economics, Australian National University.
    7. Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo Group Munich.
    8. Tversky, Amos & Kahneman, Daniel, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, MIT Press, vol. 106(4), pages 1039-61, November.
    9. Johnson, Eric J, et al, 1993. " Framing, Probability Distortions, and Insurance Decisions," Journal of Risk and Uncertainty, Springer, vol. 7(1), pages 35-51, August.
    10. Florencia López Bóo & Lucía Madrigal & Carmen Pagés-Serra, 2009. "Part-Time Work, Gender and Job Satisfaction: Evidence from a Developing Country," IDB Publications (Working Papers) 4131, Inter-American Development Bank.
    11. Meier, Stephan & Stutzer, Alois, 2004. "Is Volunteering Rewarding in Itself?," IZA Discussion Papers 1045, Institute for the Study of Labor (IZA).
    12. Moffitt, Robert A., 2002. "Welfare programs and labor supply," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 34, pages 2393-2430 Elsevier.
    13. Bruno S. Frey, 2008. "Happiness: A Revolution in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262062771, June.
    14. DiTella, Rafael & MacCulloch, Robert & Oswald, Andrew J., 2001. "Preferences over inflation and unemployment: Evidence from surveys of happiness," ZEI Working Papers B 03-2001, ZEI - Center for European Integration Studies, University of Bonn.
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    18. repec:dgr:kubcen:200769 is not listed on IDEAS
    19. Daniel Kahneman & Alan B. Krueger & David Schkade & Norbert Schwarz & Arthur Stone, 2004. "Toward National Well-Being Accounts," American Economic Review, American Economic Association, vol. 94(2), pages 429-434, May.
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    23. Altman, Morris, 2001. "A behavioral model of labor supply: casting some light into the black box of income-leisure choice," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(3), pages 199-219, May.
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