Reference Dependent Preference and Labor Supply: Evidence from China

被引:1
|
作者
Fang, Guanfu [1 ]
Hu, Guanliang [2 ]
Yao, Lan [2 ]
机构
[1] Shanghai Univ Int Business & Econ, Sch Business, Shanghai 201620, Peoples R China
[2] Shanghai Univ Finance & Econ, Sch Econ, Shanghai 200433, Peoples R China
基金
中国国家自然科学基金;
关键词
reference dependent preference; wage elasticity; labor supply; income shock; PROSPECT-THEORY; WAGES; TAXI;
D O I
10.3868/s060-008-019-0013-8
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper investigates the daily labor supply decisions of Hangzhou cabdrivers. We find that Hangzhou cabdrivers' wage elasticity is significantly positive, their working decisions are largely affected by shift time, and crude proxy variables for income; hours targets can hardly explain their working behavior. Nevertheless, Hangzhou cabdrivers are still affected by reference dependent preference. Using new empirical strategies, we show that cabdrivers are more likely to continue working when wage rates are unexpectedly low and more likely to quit when wage rates are unexpectedly high.
引用
收藏
页码:264 / 301
页数:38
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