In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...

We demonstrate that interpersonal comparisons lead to "keeping up with the Joneses"-behavior. Using annual household data from the German Socio-Economic Panel, we estimate the causal effect of changes in reference consumption, defined as the consumption level of all households who are perceived...

Nationally representative panel survey data for Germany and Australia are used to investigate the impact of working-time mismatches (i.e., differences between actual and desired work hours) on mental health, as measured by the Mental Component Summary Score from the SF-12. Fixed effects and...

We quantify the importance of precautionary labor supply using data from the German Socio-Economic Panel (SOEP) for 2001-2012. We estimate dynamic labor supply equations augmented with a measure of wage risk. Our results show that married men choose about 2.5% of their hours of work or one week...

Entrepreneurs and freelancers, the self-employed, commonly are characterized as not only to be relatively rich in income but also as to be rich in time because of their time-sovereignty in principle. Our introducing study scrutinises these results and notions about the well-being situation of...

Die Debatte um Arbeitszeiten und deren Regulierung wird in der deutschen Öffentlichkeit erneut geführt. Empirische Grundlage sind dabei häufig Studien auf Basis des Mikrozensus oder des Sozio-oekonomischen Panels (SOEP), die teilweise erhebliche Unterschiede in ihren Ergebnissen aufweisen...

This paper analyses the role of job changes in overcoming work hour constraints and the work hour mismatches resulting from these constraints (i.e., differences between actual and desired work hours). Building on previous findings that job change increases the flexibility of actual work hours,...

Neither market income nor consumption expenditure provides an adequate picture of individual standard of living. It is time which enables and restricts individual activities and is a further brick to a more comprehensive picture of individual well-being. In our study we focus on a prominent part...

This article investigates the effects of an increase in paid parental leave - twelve months instead of six months - on children's long-term life satisfaction. The historical setting under study, namely the former German Democratic Republic (GDR), allows us to circumvent problems of selection of...

As the policy debate on entrepreneurship increasingly centers on firm growth in terms of job creation, it is important to better understand which variables influence the first hiring decision and which ones influence the subsequent survival as an employer. Using the German Socioeconomic Panel...