Non-pecuniary Work Incentive and Labor Supply
| dc.creator | Farzin, Y. Hossein | |
| dc.creator | Akao, Ken-Ichi | |
| dc.date | 2017-04-01T19:43:52Z | |
| dc.date.accessioned | 2026-07-09T03:03:49Z | |
| dc.description | Recognizing that people value employment not only to earn income to satisfy their consumption needs, but also as a means to gain socio-psychological (nonpecuniary) benefits, we show that once nonpecuniary work incentives are incorporated into standard labor supply theory, (i) the wage rate under-estimates (over-estimates) the true value of nonwork/leisure time when work has nonpecuniary benefits (costs), (ii) nonpecuniary benefits can be a substitute for monetary wages as work incentives, (iii) at very low wage rates, work can become a net source of utility, and (iii) the shape of labor supply curve differs from standard theory. We also identify conditions under which a greater nonpecuniary work incentive generates a larger individual labor supply, and examine the effects of non-wage income on labor supply both for paid and voluntary work. | |
| dc.identifier | doi:10.22004/ag.econ.12227 | |
| dc.identifier | https://ageconsearch.umn.edu/record/12227/files/wp060021.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/12227 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/525784 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/12227 | |
| dc.title | Non-pecuniary Work Incentive and Labor Supply | |
| dc.type | Text |