The Review of Economics and Statistics Vol. 73 No. 3 1991
Nonpecuniary Rewards in the Workplace: Demand Estimates Using Quasi-Market Data
Abstract
Lack of explicit markets and associated data have impeded measurement of nonpecuniary rewards in the workplace. Most of the published literature employs hedonic models that permit estimation of market-clearing prices, but do not allow for identification of demand schedules. In an alternative approach, used successfully by environmental economists, the author develops quasi-market data and uses it to estimate demand for the nonpecuniary rewards associated with leadership. In addition to price responsiveness, individuals exhibit tastes for the amenities of leadership that differ substantially, and in expected directions, with their personal and professional characteristics.
- DOI
- 10.2307/2109576
- Volume
- 73
- Issue
- 3
- Pages
- 508
- Sources
- crossref openalex