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Overpayment and earnings satisfaction: an application of an ordered response Tobit Model

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  • Wim Groot
  • Henriette Maassen Van Den Brink

Abstract

In this paper an ordered response Tobit model is specified to determine the effects of absolute wages and relative overpayment on satisfaction with earnings. The joint estimations of wages and satisfaction with earnings allows us to disentangle the effects of relative and absolute wages on satisfaction with earnings. The model is estimated on two different data sets. All estimations show that satisfaction with earnings is determined by relative wages rather than by absolute wage levels. The results may have implications for pay policies of firms

Suggested Citation

  • Wim Groot & Henriette Maassen Van Den Brink, 1999. "Overpayment and earnings satisfaction: an application of an ordered response Tobit Model," Applied Economics Letters, Taylor & Francis Journals, vol. 6(4), pages 235-238.
  • Handle: RePEc:taf:apeclt:v:6:y:1999:i:4:p:235-238
    DOI: 10.1080/135048599353410
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    Cited by:

    1. Kingdon, Geeta Gandhi & Knight, John, 2007. "Community, comparisons and subjective well-being in a divided society," Journal of Economic Behavior & Organization, Elsevier, vol. 64(1), pages 69-90, September.
    2. Cardoso, Ana Rute, 2012. "Money and rank in the labor market," Economics Letters, Elsevier, vol. 115(2), pages 325-328.
    3. Torgler, Benno & Schmidt, Sascha L & Frey, Bruno S., 2006. "The Power of Positional Concerns: A Panel Analysis," Berkeley Olin Program in Law & Economics, Working Paper Series qt1z14v7zt, Berkeley Olin Program in Law & Economics.
    4. Benno Torgler & Sascha L. Schmidt & Bruno S. Frey, 2008. "The Power of Positional Concerns," CREMA Working Paper Series 2008-07, Center for Research in Economics, Management and the Arts (CREMA).
    5. HAURET Laetitia & WILLIAMS Donald R., 2017. "Choice of colleagues as reference group for wage comparison: does group composition matter?," LISER Working Paper Series 2017-10, LISER.
    6. Cardoso, Ana Rute, 2005. "Big Fish in Small Pond or Small Fish in Big Pond? An Analysis of Job Mobility," IZA Discussion Papers 1900, Institute for the Study of Labor (IZA).
    7. Kingdon, Geeta Gandhi & Knight, John, 2007. "Community, comparisons and subjective well-being in a divided society," Journal of Economic Behavior & Organization, Elsevier, vol. 64(1), pages 69-90, September.

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