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The value of time from subjective data on life satisfaction and job satisfaction: An empirical assessment

Gunnar Isacsson (), Anders Karlström () and Jan-Erik Swärdh ()
Additional contact information
Gunnar Isacsson: VTI, Postal: Dept. of Transport Economics, P.O. Box 760, SE-781 27 Borlange, Sweden
Anders Karlström: KTH, Postal: Transport and Economics, Royal Institute of Technology, SE-100 44 Stockholm, Sweden
Jan-Erik Swärdh: VTI, Postal: Dept. of Transport Economics, P.O. Box 55685, SE-102 15 Stockholm, Sweden

No 2008:2, Working Papers from Swedish National Road & Transport Research Institute (VTI)

Abstract: This paper compares estimates of the value of commuting time, working time and household working time from empirical models of subjective assessments of life satisfaction and job satisfaction, respectively, to the corresponding estimates obtained from an empirical search model of the labour market. The results indicate that all three variables produce rather high estimates of the value of commuting time. The results regarding the value of working time differ more between the different outcome variables and it is only significantly different from zero in the model of life satisfaction. Perhaps less surprisingly, the estimate of the value of household working time is also only significantly different from zero in the model of life satisfaction in contrast to the models of job satisfaction and job durations where it is insignificantly different from zero. This paper compares estimates of the value of commuting time, working time and household working time from empirical models of subjective assessments of life satisfaction and job satisfaction, respectively, to the corresponding estimates obtained from an empirical search model of the labour market. The results indicate that all three variables produce rather high estimates of the value of commuting time. The results regarding the value of working time differ more between the different outcome variables and it is only significantly different from zero in the model of life satisfaction. Perhaps less surprisingly, the estimate of the value of household working time is also only significantly different from zero in the model of life satisfaction in contrast to the models of job satisfaction and job durations where it is insignificantly different from zero.

Keywords: Life satisfaction; job satisfaction; job search; value of time (search for similar items in EconPapers)
JEL-codes: C25 C41 J62 R41 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2008-04-21
New Economics Papers: this item is included in nep-hap, nep-lab and nep-ure
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Citations: View citations in EconPapers (2) Track citations by RSS feed

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