Publication: The causes and economic consequences of envy
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Publication date
2010-06
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Springer
Abstract
In this lecture I first give an explanation for invidious preferences based on the (evolutionary) competition for resources. Then I show that these preferences have wide ranging and empirically relevant effects on labor markets, such as: workplace skill segregation, gradual promotions, wage increases that have no relation with
productivity and downward wage flexibility. I suggest that labor and human resource
economics can benefit from including envy into the standard set of factors considered
in their theoretical and empirical models.
Description
16 pages, 1 figure.-- Presidential address delivered at the 34th Symposium of the Spanish Economic Association in Valencia, Spain, on December 10, 2009.
Keywords
Envy, Interdependent preferences, Skill segregation, Wage dynamics, Wage dispersion, Internal labor market, Recursive contracts
Bibliographic citation
SERIEs: Journal of the Spanish Economic Association, 2010, n. 1, pp. 371-386