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Frontiers of Economics in China

ISSN 1673-3444

ISSN 1673-3568(Online)

CN 11-5744/F

邮发代号 80-978

Frontiers of Economics in China  2019, Vol. 14 Issue (2): 264-301   https://doi.org/10.3868/s060-008-019-0013-8
  本期目录
Reference Dependent Preference and Labor Supply: Evidence from China
Guanfu Fang1(), Guanliang Hu2, Lan Yao3()
1. School of Business, Shanghai University of International Business and Economics, Shanghai 201620, China
2. School of Economics, Shanghai University of Finance and Economics, Shanghai 200433, China
3. School of Economics, Shanghai University of Finance and Economics, Shanghai 200433, China
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Abstract

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.

Key wordsreference dependent preference    wage elasticity    labor supply    income shock
出版日期: 2019-07-17
 引用本文:   
. [J]. Frontiers of Economics in China, 2019, 14(2): 264-301.
Guanfu Fang, Guanliang Hu, Lan Yao. Reference Dependent Preference and Labor Supply: Evidence from China. Front. Econ. China, 2019, 14(2): 264-301.
 链接本文:  
https://academic.hep.com.cn/fec/CN/10.3868/s060-008-019-0013-8
https://academic.hep.com.cn/fec/CN/Y2019/V14/I2/264
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