Farzin, Y. Hossein; Akao, Ken-Ichi - Department of Agricultural and Resource Economics, … - 2005
Recognizing that people value employment not only to earn income to satisfy their consumption needs, but also as a means to gain socio-psychological (nonpecuniary) benefits, we show that once nonpecuniary work incentives are incorporated into standard labor supply theory, (i) the wage rate...