Non-Pecuniary Value of Employment and Individual Labor Supply
Author | : Y. Hossein Farzin |
Publisher | : |
Total Pages | : 0 |
Release | : 2005 |
ISBN-10 | : OCLC:1375335807 |
ISBN-13 | : |
Rating | : 4/5 ( Downloads) |
Download or read book Non-Pecuniary Value of Employment and Individual Labor Supply written by Y. Hossein Farzin and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recognizing that people value employment not only to earn income to satisfy their consumption needs but also as a means of community involvement that provides socio-psychological (non-pecuniary) benefits, we show that once the non-pecuniary benefits of employment are incorporated in the standard individual's utility function, then at very low income levels employment can be a source of utility, inducing individuals to supply labor to the extent possible. We also show the conditions under which a greater non-pecuniary effect of employment generates a larger individual labor supply.