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Subjective Outcomes in Economics

  • Daniel S. Hamermesh

This study examines the various uses of subjective outcomes as a focus of interest for economists. It outlines the possible channels by which economists can usefully add to what are already massive literatures on such outcomes in the other social sciences. Generally we contribute little if we merely engage in fancier empirical work and still less if we describe subjective outcomes by other subjective outcomes. Our biggest contributions can be in adducing economic theories that allow a better understanding of objective behavior using subjective outcomes, or of the determinants of subjective outcomes; or in understanding subjective outcomes, such as expectations, that underlie objective economic behavior.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 10361.

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Date of creation: Mar 2004
Date of revision:
Publication status: published as "Subjective Outcomes in Economics" Hamermesh, Daniel S.; Southern Economic Journal, July 2004, v. 71, iss. 1, pp. 2-11
Handle: RePEc:nbr:nberwo:10361
Note: LS
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  1. Lance Lochner, 2007. "Individual Perceptions of the Criminal Justice System," American Economic Review, American Economic Association, vol. 97(1), pages 444-460, March.
  2. Steven J. Haider & Melvin Stephens, 2007. "Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 247-264, May.
  3. Bruno S. Frey & Alois Stutzer, . "What can Economists Learn from Happiness Research?," IEW - Working Papers 080, Institute for Empirical Research in Economics - University of Zurich.
  4. Kathleen McGarry, 2002. "Health and Retirement: Do Changes in Health Affect Retirement Expectations?," NBER Working Papers 9317, National Bureau of Economic Research, Inc.
  5. John Bound, 1991. "Self-Reported Versus Objective Measures of Health in Retirement Models," Journal of Human Resources, University of Wisconsin Press, vol. 26(1), pages 106-138.
  6. Kerwin Kofi Charles, 2002. "Is Retirement Depressing?: Labor Force Inactivity and Psychological Well-Being in Later Life," NBER Working Papers 9033, National Bureau of Economic Research, Inc.
  7. Levy-Garboua, Louis & Montmarquette, Claude, 2004. "Reported job satisfaction: what does it mean?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 33(2), pages 135-151, April.
  8. Gardner, Jonathan & Andrew Oswald, 2002. "Does Money Buy Happiness? A Longitudinal Study Using Data on Windfalls," Royal Economic Society Annual Conference 2002 81, Royal Economic Society.
  9. Robert J. MacCulloch & Rafael Di Tella & 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.
  10. L. F. Jameson Boex, 2000. "Attributes of Effective Economics Instructors: An Analysis of Student Evaluations," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(3), pages 211-227, September.
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