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Self-employment and Subjective Well-Being

Martin Binder () and Ann-Kathrin Blankenberg

No 744, GLO Discussion Paper Series from Global Labor Organization (GLO)

Abstract: Self-employment contributes to employment growth and innovativeness and many individuals want to become self-employed due to the autonomy and exibility it brings. Using "subjective well-being" as a broad summary measure that evaluates an individual's experience of being self-employed, the chapter discusses evidence and explanations why self-employment is positively associated with job satisfaction, even though the self-employed often earn less than their employed peers, work longer hours and experience more stress and higher job demands. Despite being more satisfied with their jobs, the self-employed do not necessarily enjoy higher overall life satisfaction, which is due to heterogeneity of types of self-employment, as well as motivational factors, work characteristics and institutional setups across countries.

Keywords: self-employment; entrepreneurship; subjective well-being; job satisfaction; life satisfaction (search for similar items in EconPapers)
JEL-codes: J24 J28 L26 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-cwa, nep-ent and nep-hap
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:glodps:744

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