Original source
Labor Supply and the Value of Non-Work Time: Experimental Estimates from the Field (2018)
working paper
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Used in these cards
Effective Wage Differential Bundle Mechanism
"We randomly varied the additional earnings an applicant would receive from working the longer job instead of the shorter job. Specifically, we define $e_{ih}$ as the additional earnings for each of the five extra hours in the longer job."
Employed vs. Unemployed MVT Divergence
"On the other hand, for employed jobseekers, MVT may include not only the value of leisure and household production, but also the wage in another job if workers substitute hours between jobs."
Inattention Mixture Model Correction
"We estimate $2\hat{\alpha}=10.6\%$ using the fraction of applicants who incorrectly recalled their job choice later in the application... inattention-corrected estimates give similar results."
Marginal Value of Non-Work Time (MVT)
"For unemployed applicants, the average opportunity cost of a full-time job due to lost leisure and household production is approximately 60% of their after-tax marginal product, and approximately 72% when including fixed costs of employment and child care costs."
Non-Linear Compensated Labor Supply Elasticity
"Below 30 work hours the elasticity of hours with respect to the wage is greater than 1. At or above 40 hours it is in the 0.5-0.6 range."
Overtime Intercept Constraint Extrapolation
"In the '40 vs. 45 Hours' and '45 vs. 50 Hours' panels, we constrain the intercepts, $Pr(1[h_i]=1|e_{ih}=0)$, to values predicted using the estimated intercepts at lower hour treatments... dramatically increasing precision."
Part-Time Labor Scarcity Rationalization
"There are relatively few part-time workers because intermediate hours are on the elastic part of the labor supply curve, implying a limited wage range where a worker would find it optimal to work part-time."
Stated vs. Revealed Preference Invariance in Time Valuation
"We get similar estimates when we weight the sample to match the characteristics of hourly workers in the United States and when we use a hypothetical choice experiment in the nationally-representative Understanding America Study (UAS)."
Total Opportunity Cost Parameter (z)
"Our preferred estimate after accounting for these additional costs is z=0.72 which is in the intermediate to higher range of values used in the search literature."
Wage Framing Invariance (Average vs. Marginal)
"The estimates are close and we conclude that the framing of the choice is not influencing the estimated MVT."