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Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-52212

Frey, Bruno S; Benz, Matthias (2006). Being Independent is a Great Thing: Subjective Evaluations of Self-Employment and Hierarchy. Working paper series / Institute for Empirical Research in Economics No. 135, University of Zurich.

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Abstract

One can be independent, or subject to decisions made by others. This paper argues that this difference, embodied in the institutional difference between the decisionmaking procedures “market” and “hierarchy”, affects individual well-being beyond outcomes. Taking self-employment as an important case of independence, it is shown that the self-employed derive higher satisfaction from work than people employed innorganizations, irrespective of income gained or hours worked. This is evidence for procedural utility: people do not only value outcomes, but also the processes leading to outcomes.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Institute for Empirical Research in Economics (former)
Dewey Decimal Classification:330 Economics
Language:English
Date:September 2006
Deposited On:29 Nov 2011 22:47
Last Modified:09 Jul 2012 05:03
Series Name:Working paper series / Institute for Empirical Research in Economics
ISSN:1424-0459
Official URL:http://www.econ.uzh.ch/wp.html

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