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Description
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.
Journal
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- SSRN Electronic Journal
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SSRN Electronic Journal 2004-01-01
Elsevier BV
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Keywords
Details 詳細情報について
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- CRID
- 1871146593142740352
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- ISSN
- 15565068
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- HANDLE
- 10419/74154
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- Data Source
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- OpenAIRE