Image and Reality: The Case of Job Satisfaction

University of Aberdeen Business School Working Paper No. 2007-15

Posted: 11 Jan 2008

See all articles by Ada Ferrer-i-Carbonell

Ada Ferrer-i-Carbonell

Institut d'Anàlisi Econòmica (IAE-CSIC), Barcelona

B.M.S. van Praag

University of Amsterdam - Faculty of Economics and Business (FEB); IZA Institute of Labor Economics; Tinbergen Institute in Amsterdam; CESifo (Center for Economic Studies and Ifo Institute)

Ioannis Theodossiou

University of Aberdeen - Business School

Date Written: March 2007

Abstract

This study makes a distinction between two types of utility. Experienced utility is defined as the job satisfaction derived from the present job, estimated by using a subjective evaluation of job satisfaction. Anticipated utility is defined as the individual's anticipated job satisfaction before starting the job and it is studied by using a stated preference methodology known as conjoint analysis. The results suggest that the two utility concepts are different. Information about experienced utility is useful for the evaluation of well-being policies and the welfare effects of various employer strategies. Anticipated utility provides knowledge about the job search process.

Keywords: conjoint analysis, experienced utility, decision utility, job satisfaction, subjective well-being

JEL Classification: C25, D6, J24, J22

Suggested Citation

Ferrer-i-Carbonell, Ada and van Praag, Bernard and Theodossiou, Ioannis, Image and Reality: The Case of Job Satisfaction (March 2007). University of Aberdeen Business School Working Paper No. 2007-15, Available at SSRN: https://ssrn.com/abstract=1082724

Ada Ferrer-i-Carbonell (Contact Author)

Institut d'Anàlisi Econòmica (IAE-CSIC), Barcelona ( email )

Barcelona, Bellaterra 08193
Spain

Bernard Van Praag

University of Amsterdam - Faculty of Economics and Business (FEB) ( email )

Roetersstraat 11
Amsterdam, 1018 WB
Netherlands
31 20 5256018 (Phone)
31 20 5256013 (Fax)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Tinbergen Institute in Amsterdam

Gustav Mahlerplein 117
Amsterdam, 1082 MS
Netherlands

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

Ioannis Theodossiou

University of Aberdeen - Business School ( email )

Edward Wright Building
Dunbar Street
Aberdeen, Scotland AB24 3QY
United Kingdom

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