Job Satisfaction and Reference Wages: Evidence for a Developing Country
Rodrigo Montero () and
Journal of Happiness Studies, 2015, vol. 16, issue 6, 1493-1507
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)
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Working Paper: Job Satisfaction and Reference Wage: Evidence for a Developing Country (2014)
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