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Subjective Outcomes in Economics

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  • Daniel S. Hamermesh

Abstract

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.

Suggested Citation

  • Daniel S. Hamermesh, 2004. "Subjective Outcomes in Economics," NBER Working Papers 10361, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:10361
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    References listed on IDEAS

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    1. 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.
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    5. Lance Lochner, 2007. "Individual Perceptions of the Criminal Justice System," American Economic Review, American Economic Association, vol. 97(1), pages 444-460, March.
    6. Kathleen McGarry, 2004. "Health and Retirement: Do Changes in Health Affect Retirement Expectations?," Journal of Human Resources, University of Wisconsin Press, vol. 39(3).
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    10. 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.
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    More about this item

    JEL classification:

    • J00 - Labor and Demographic Economics - - General - - - General
    • I00 - Health, Education, and Welfare - - General - - - General

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