Neumark, D., &Postlewaite, A. (1995). Relative income concerns and the rise in married women& #39;s employment(No. w5044). National Bureau of Economic Research.

We ask whether women’s decisions to be in the labor force may be affected by the decisions of other women in ways not captured by standard models. We develop a model that augments the simple neoclassical framework by introducing relative income concerns into women’s (or families’) utility functions. In this model, the entry of some women into paid employment can spur the entry of other women, independently of wage and income effects. This mechanism may help to explain why, over some periods, women’s employment appeared to rise faster than could be accounted for by the simple neoclassical model. We test the model by asking whether women’s decisions to seek paid employment depend on the employment decisions of other women with whom relative income comparisons might be important. In particular, we look at the effects of sisters’ employment on women’s own employment. We find strong evidence that women’s employment decisions are positively related to their sisters’ employment decisions. We also take account of the possibility that this positive relationship arises from heterogeneity across families in unobserved variables affecting the employment decision. We conduct numerous empirical analyses to reduce or eliminate this heterogeneity bias. We also look at the relationship between husbands’ relative income and wives’ employment decisions. In our view, the evidence is largely supportive of the relative income hypothesis.

 

 

Neumark, D., &Postlewaite, A. (1995). Relative income concerns and the rise in married women’s employment(No. w5044). National Bureau of Economic Research.

DOI: 10.3386/w5044

 

 

Irwin, F. W. (1944). The realism of expectations. Psychological Review, 51(2), 120-126.

Levels of expectation are considered to be distributed along a continuum with realistic at one extreme and unrealistic at the other. Experimental data were analyzed with reference to the several criteria. Reliability and generality of the level of expectation were shown to be sensitive to the position of the expectations on the realism-unrealism continuum. Failure to control this characteristic of expectations may lead to disagreements in conclusions arrived at in different studies.

 

 

Irwin, F. W. (1944). The realism of expectations. Psychological Review, 51(2), 120-126.

http://dx.doi.org/10.1037/h0061743  

Bowles, S. (1998). Endogenous preferences: The cultural consequences of markets and other economic institutions. Journal of economic literature, 36(1), 75-111.

초록 없음

 

 

Bowles, S. (1998). Endogenous preferences: The cultural consequences of markets and other economic institutions. Journal of economic literature, 36(1), 75-111.

https://www.jstor.org/stable/2564952

 

 

Carroll, C. D., Overland, J., & Weil, D. N. (2000). Saving and growth with habit formation. American Economic Review, 90(3), 341-355.

Saving and growth are strongly positively correlated across countries. Recent empirical evidence suggests that this correlation holds largely because high growth leads to high saving, not the other way around. This evidence is difficult to reconcile with standard growth models, since forward-looking consumers with standard utility should save less in a fast-growing economy because they know they will be richer in the future than they are today. We show that if utility depends partly on how consumption compares to a “habit stock” determined by past consumption, an otherwise-standard growth model can imply that increases in growth can cause increased saving.

 

 

Carroll, C. D., Overland, J., & Weil, D. N. (2000). Saving and growth with habit formation. American Economic Review, 90(3), 341-355.

DOI: 10.1257/aer.90.3.341 

Ferrer‐i‐Carbonell, A., &Frijters, P. (2004). How important is methodology for the estimates of the determinants of happiness?. The Economic Journal, 114(497), 641-659.

Psychologists and sociologists usually interpret happiness scores as cardinal and comparable across respondents, and thus run OLS regressions on happiness and changes in happiness. Economists usually assume only ordinality and have mainly used ordered latent response models, thereby not taking satisfactory account of fixed individual traits. We address this problem by developing a conditional estimator for the fixed‐effect ordered logit model. We find that assuming ordinality or cardinality of happiness scores makes little difference, whilst allowing for fixed‐effects does change results substantially. We call for more research into the determinants of the personality traits making up these fixed‐effects.

 

 

Ferrer‐i‐Carbonell, A., &Frijters, P. (2004). How important is methodology for the estimates of the determinants of happiness?. The Economic Journal, 114(497), 641-659.

https://doi.org/10.1111/j.1468-0297.2004.00235.x 

 

Hayo, B., &Seifert, W. (2003). Subjective economic well-being in Eastern Europe. Journal of Economic Psychology, 24(3), 329-348.

This paper analyses subjective economic well-being in several Eastern European countries from 1991 to 1995. Economic well-being explains a significant part of the variation in overall life satisfaction of Eastern Europeans. In an ordered logit model, the determinants of subjective economic well-being are analysed. Some results are very similar to typical findings in happiness regressions, such as a negative but u-shaped age effect, positive influences of education and relative income position, as well as a negative effect of unemployment. Differing results were found with regard to gender and marital status. Finally, comparing indicators of objective and subjective well-being on a macro level indicates that using a standard macro variable for cross-country comparisons in well-being, such as real GDP per capita, may provide misleading results during the early stages of transformation.

 

 

Hayo, B., &Seifert, W. (2003). Subjective economic well-being in Eastern Europe. Journal of Economic Psychology, 24(3), 329-348.

https://doi.org/10.1016/S0167-4870(02)00173-3

 

 

Mellers, B. A. (2000). Choice and the relative pleasure of consequences. Psychological Bulletin, 126(6), 910-924.

Although pleasure played a central role in early theories of decision making, it gradually became peripheral, largely because of measurement concerns. Normative theories became more mathematical, and deive theories emphasized cognition over emotion. In recent years, there has been a renewed interest in emotions and choice. This article examines attempts to model pleasure and pain in terms of utilities, decision weights, and counterfactual comparisons. Research on disappointment and regret has provided both empirical and theoretical insights. Many researchers now realize that the predictability of the emotions that follow from decisions is as important as the predictability of choice.

 

 

Mellers, B. A. (2000). Choice and the relative pleasure of consequences. Psychological Bulletin, 126(6), 910-924.

http://dx.doi.org/10.1037/0033-2909.126.6.910  

Smith, R. H., Diener, E., &Wedell, D. H. (1989). Intrapersonal and social comparison determinants of happiness: A range-frequency analysis.

Examined whether intrapersonal comparisons and social comparisons operate in similar ways to determine ratings of happiness. Events were varied to create positively and negatively skewed distributions. The events in each distribution were ascribed to either a single person or a group of people; Ss rated how happy they would feel if they experienced specific events within the distribution. Ratings for both intrapersonal and social comparisons were fit well by Parducci’s (1984) range-frequency theory. Individual events received higher ratings when presented within the positively skewed context. Overall happiness, as measured by both the mean of the happiness ratings as well as direct ratings, was highest for the negatively skewed distributions. The effects of skewing were more pronounced for intrapersonal comparisons, but ratings were more closely defined by the range of experimental stimuli for social comparisons.

 

 

Smith, R. H., Diener, E., & Wedell, D. H. (1989). Intrapersonal and social comparison determinants of happiness: A range-frequency analysis. Journal of Personality and Social Psychology, 56(3), 317-325.

http://dx.doi.org/10.1037/0022-3514.56.3.317