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Author: | Benz, M. Frey, B.S. |
Title: | Being independent is a great thing: Subjective evaluations of self-employment and hierarchy |
Journal: | Economica
2008 : MAY, VOL. 75:298, p. 362-383 |
Index terms: | decision making employment self-development quality of working life work |
Language: | eng |
Abstract: | This paper argues that the difference btw. being independent and being subject to decisions made by others, embodied in the institutional distinction btw. the decision-making procedures 'market' and 'hierarchy', affects individual wellbeing beyond outcomes. Taking self-employment as a case of independence, the self-employed are shown to derive higher satisfaction from work than those employed in organizations, irrespective of income gained / hours worked. This is evidence for procedural utility: people value not only outcomes, but also the processes leading to outcomes. |
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