Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/163538
Authors: 
Geraci, Andrea
Bryan, Mark L.
Year of Publication: 
2016
Series/Report no.: 
ISER Working Paper Series 2016-12
Abstract: 
We compare two alternative ways of measuring workers' marginal willingness to pay (MWP) for four non-standard working arrangements: flexitime, part-time, night work, and rotating shifts. The first method is based on job-to-job transitions within a job search framework, while the second is based on estimating the determinants of subjective well-being. Using BHPS panel data from 1991-2008, we relate differences in the results to conceptual differences between utility and subjective wellbeing proposed recently in the happiness literature. We conclude that there is not a single representation of MWP: utility trade-offs (revealed by choices) need not be the same as wellbeing trade-offs; and we find evidence that subjective wellbeing is traded off against other goods that provide utility. Overall, we find that workers care particularly about their number of weekly hours.
Subjects: 
Willingness to Pay
Non-standard work
Job Satisfaction
Subjective Well-Being
Job Duration
JEL: 
J28
J30
J32
J60
Document Type: 
Working Paper

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