TY - JOUR
T1 - The immaterial sustenance of work and leisure
T2 - A new look at the work-leisure model
AU - Sherman, Arie
AU - Shavit, Tal
PY - 2013/10
Y1 - 2013/10
N2 - We introduce a model of labor supply that considers the immaterial sustenance value of work per se. We suggest that people ask for compensation when increasing work hours but also when reducing work hours even when continuing to work part-time. Based on survey results, we show that the reference point (the worker's actual position) is important, and has an effect on the requested compensation when increasing or decreasing the number of hours worked. We find that the requested compensation is neither linear and nor symmetrical, and suggest that welfare policy should take the immaterial sustenance into account.
AB - We introduce a model of labor supply that considers the immaterial sustenance value of work per se. We suggest that people ask for compensation when increasing work hours but also when reducing work hours even when continuing to work part-time. Based on survey results, we show that the reference point (the worker's actual position) is important, and has an effect on the requested compensation when increasing or decreasing the number of hours worked. We find that the requested compensation is neither linear and nor symmetrical, and suggest that welfare policy should take the immaterial sustenance into account.
KW - Leisure
KW - Loss aversion
KW - Reference point
KW - Relative compensation
KW - Work
UR - http://www.scopus.com/inward/record.url?scp=84880409667&partnerID=8YFLogxK
U2 - 10.1016/j.socec.2013.06.003
DO - 10.1016/j.socec.2013.06.003
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AN - SCOPUS:84880409667
SN - 1053-5357
VL - 46
SP - 10
EP - 16
JO - Journal of Socio-Economics
JF - Journal of Socio-Economics
ER -