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Reference Dependent Preference and Labor Supply:Evidence from China
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作者 Guanfu Fang guanliang hu Lan Yao 《Frontiers of Economics in China-Selected Publications from Chinese Universities》 2019年第2期264-301,共38页
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, ... 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. 展开更多
关键词 REFERENCE DEPENDENT PREFERENCE WAGE elasticity LABOR supply INCOME shock
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