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Job Satisfaction and Reference Wages: Evidence for a Developing Country

Rodrigo Montero () and Diego Vásquez

Journal of Happiness Studies, 2015, vol. 16, issue 6, 1493-1507

Abstract: Using Chilean data we present evidence about the relationship between job satisfaction, own wage, and reference group wage. We conducted a semi-nonparametric estimation of extended ordered probit models in order to identify the determinants of job satisfaction. Our main result indicates that a 10 % increase in the reference group wage would need to be compensated for by a 24.9 % increase in the own wage to give the same level of job satisfaction. This result shows the enormous importance of the reference group wage for job satisfaction. Copyright Springer Science+Business Media Dordrecht 2015

Keywords: Job satisfaction; Reference wage; Non-observables; Semi-nonparametric; C14; I31; J28 (search for similar items in EconPapers)
Date: 2015
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Working Paper: Job Satisfaction and Reference Wage: Evidence for a Developing Country (2014) Downloads
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DOI: 10.1007/s10902-014-9571-y

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