A decision-making model for workload/salary choices and their effect on well-being

Eugenio L. Facci and Genie Chartier

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2008, vol. 37, issue 5, 1880-1905

Abstract: We propose a career decision-making model to examine employees' well-being and understand why in developed countries rising incomes are accompanied by increasing workloads, rising social problems and stagnant satisfaction. The model applies prospect theory to people's career choices under uncertainty, and specifically to scenarios where workload is expressed through qualitative expressions. We argue that uncertainty leads to systematic over-evaluation of some well-being predictors (salary) over others (friends and family). A research agenda and some potential solutions are also discussed.

Keywords: Decision-making; Utility; indifference; curves; Well-being; Labor; economics; Prospect; theory (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:37:y:2008:i:5:p:1880-1905

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