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dc.rights.licenseopenen_US
dc.contributor.authorAKAY, Alpaslan
hal.structure.identifierBordeaux Sciences Economiques [BSE]
dc.contributor.authorBARGAIN, Olivier
dc.contributor.authorJARA, H.X.
dc.date.accessioned2022-12-09T11:56:32Z
dc.date.available2022-12-09T11:56:32Z
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/170548
dc.description.abstractEnSubjective well-being (SWB) data is increasingly used to perform welfare analysis. Interpreted as ‘experienced utility’, it has recently been compared to ‘decision utility’ using smallscale experiments most often based on stated preferences. We transpose this comparison to the framework of non-experimental and large-scale data commonly used for policy analysis, focusing on the income-leisure domain where redistributive policies operate. Using the British Household Panel Survey, we suggest a ‘deviation’ measure, which is simply the difference between actual working hours and SWB-maximizing hours. We show that about three-quarters of individuals make decisions that are not inconsistent with maximizing their SWB. We discuss the potential channels that explain the lack of optimization when deviations are significantly large. We find proxies for a number of individual and external constraints, and show that constraints alone can explain at least half of the deviations. In our context, deviations partly reflect the inability of the revealed preference approach to account for labor market rigidities, so the actual and SWBmaximizing hours should be used in a complementary manner. The suggested approach based on our deviation metric could help identify labor market frictions.
dc.language.isoENen_US
dc.rightsAttribution 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/us/*
dc.subject.enDecision Utility
dc.subject.enExperienced Utility
dc.subject.enLabor Supply
dc.subject.enSubjective Well-Being
dc.title.enExperienced versus Decision Utility: Large-Scale Comparison for Income-Leisure Preferences
dc.typeDocument de travail - Pré-publicationen_US
dc.subject.halSciences de l'Homme et Société/Economies et financesen_US
dc.subject.jelC - Mathematical and Quantitative Methods::C9 - Design of Experiments::C90 - Generalen_US
bordeaux.hal.laboratoriesBordeaux Sciences Economiques / Bordeaux School of Economics (BSE) - UMR 6060en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.institutionCNRSen_US
hal.identifierhal-03891710
hal.version1
hal.date.transferred2022-12-09T11:56:35Z
hal.exporttrue
dc.rights.ccCC BYen_US
bordeaux.COinSctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.au=AKAY,%20Alpaslan&BARGAIN,%20Olivier&JARA,%20H.X.&rft.genre=preprint


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