EconPapers    
Economics at your fingertips  
 

Impact of Freedom of Choice on Income: An Evidence from Pakistan

Humaira Mumtaz, Muhammad Asif Malik, Haroon Javaid and Muhammad Naseer ()

Journal of Economic Impact, 2019, vol. 1, issue 2, 64-69

Abstract: People make hundreds of economic decisions each day, from what they will eat or even to decide career move. Research advocates that human behavior is strongly affected by freedom given to him and those blocks avoid them to act in accordance to their interests. The current study under hand is an attempt to explore the impact of freedom of choice on household incomes. Study consumed World Value Survey data for the years 2012-2014 for Pakistan. A simple Linear Regression analysis was used to measure the psychological behaviors on decisions which further affects the income of households in Pakistan (N=1200 where Punjab=604, Sindh=278, KPK=168 and Balochistan=150 ). Here Income of an individual is taken as dependent variable and Socio-economic variables (Freedom of choice, Mistrust, Risk aversion, Creativity, Loneliness, Age, Gender, Employment level, No. of children) were taken as independent variables. Study revealed that freedom has a positive impact on income of an individual. It is also concluded by the research that persons with higher level of perceived decision freedom tend to be more resilient and ultimately finds best ways to increase his income level.

Keywords: Freedom of choice; level of income; factors of income; Pakistan (search for similar items in EconPapers)
JEL-codes: D87 D81 D91 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://scienceimpactpub.com/Docs/jei102019.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:adx:journl:v:1:y:2019:i:2:p:64-69

Access Statistics for this article

More articles in Journal of Economic Impact from Journal of Economic Impact
Bibliographic data for series maintained by Iqbal Javed ().

 
Page updated 2019-11-16
Handle: RePEc:adx:journl:v:1:y:2019:i:2:p:64-69