‘CHOOSE TO BE OPTIMISTIC, IT FEELS BETTER?’ EVIDENCE OF OPTIMISM ON EMPLOYMENT UTILITY

‘CHOOSE TO BE OPTIMISTIC, IT FEELS BETTER?’ EVIDENCE OF OPTIMISM ON EMPLOYMENT UTILITY

ABSTRACT Individual's expected wages exceed predicted market wages. Rational expectations imply the divergence should be zero. If individuals over‐estimate the return from their attributes and view the paid‐employment return distribution too favourably, then conditional on market wages, subsequ...

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Veröffentlicht in:Bulletin of economic research 2017-10, Vol.69 (4), p.428-436
Hauptverfasser: Dawson, Chris, Hinks, Tim, Veliziotis, Michail
Format: Artikel
Sprache:eng
Schlagworte:
D84
employment utility
expectations
J28
J64
optimism
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Zusammenfassung:ABSTRACT Individual's expected wages exceed predicted market wages. Rational expectations imply the divergence should be zero. If individuals over‐estimate the return from their attributes and view the paid‐employment return distribution too favourably, then conditional on market wages, subsequent employment utility is likely to be low through disappointment.
ISSN:0307-3378
1467-8586
DOI:10.1111/boer.12107