Being Independent is a Great Thing: Subjective Evaluations of Self-Employment and Hierarchy
One can be independent, or one can be subject to decisions made by others. This paper argues that this difference, embodied in the institutional distinction between the decision-making procedures 'market' and 'hierarchy', affects individual wellbeing beyond outcomes. Taking self-...
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| Veröffentlicht in: | Economica (London) 2008-05, Vol.75 (298), p.362-383 |
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| container_title | Economica (London) |
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| creator | BENZ, MATTHIAS FREY, BRUNO S. |
| description | One can be independent, or one can be subject to decisions made by others. This paper argues that this difference, embodied in the institutional distinction between the decision-making procedures 'market' and 'hierarchy', affects individual wellbeing beyond outcomes. Taking self-employment as an important case of independence, it is shown that the self-employed derive higher satisfaction from work than those employed in organizations, irrespective of income gained or hours worked. This is evidence for procedural utility: people value not only outcomes, but also the processes leading to outcomes. |
| doi_str_mv | 10.1111/j.1468-0335.2007.00594.x |
| format | Article |
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| ispartof | Economica (London), 2008-05, Vol.75 (298), p.362-383 |
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| language | eng |
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| source | PAIS Index; Business Source Complete; JSTOR Archive Collection A-Z Listing; Wiley Online Library All Journals |
| subjects | Decision making Economic surveys Economic utility Employees Employment Happiness Hierarchy Job satisfaction Labour economics Linear regression Self employment Self-employed workers Self-perception Studies Utility functions Well-being Wellbeing Work hours Working capital |
| title | Being Independent is a Great Thing: Subjective Evaluations of Self-Employment and Hierarchy |
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