Working Paper: NBER ID: w10361
Authors: Daniel S. Hamermesh
Abstract: This study examines the various uses of subjective outcomes as a focus of interest for economists. It outlines the possible channels by which economists can usefully add to what are already massive literatures on such outcomes in the other social sciences. Generally we contribute little if we merely engage in fancier empirical work and still less if we describe subjective outcomes by other subjective outcomes. Our biggest contributions can be in adducing economic theories that allow a better understanding of objective behavior using subjective outcomes, or of the determinants of subjective outcomes; or in understanding subjective outcomes, such as expectations, that underlie objective economic behavior.
Keywords: No keywords provided
JEL Codes: J000; I000
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| income (E25) | life satisfaction (I31) |
| earnings inequality (D31) | job satisfaction (J28) |
| subjective health ratings (I12) | objective health measures (I14) |
| spending on health (H51) | health outcomes (I14) |
| expectations about longevity (D15) | consumption patterns (D10) |
| income (E25) | time stress (C41) |