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X-inefficiency in the use of income to attain economic satisfaction

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  • Rojas, Mariano

Abstract

This investigation uses a subjective well-being approach to provide a novel empirical answer to an old normative debate in economic literature: whether consumers use efficiently their income. Based on a large database from Mexico, the paper shows that there exists substantial X-inefficiency in the use of income; even when a relaxed criterion to define the thick frontier is followed. X-inefficiency in the use of income can emerge from personal errors and from social-organization deficiencies. Sustainable development concerns make it critical to focus on reducing X-inefficiency as an alternative way to increase economic well-being.

Suggested Citation

  • Rojas, Mariano, 2008. "X-inefficiency in the use of income to attain economic satisfaction," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2278-2290, December.
    • Handle: RePEc:eee:soceco:v:37:y:2008:i:6:p:2278-2290
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    Cited by:

    1. Thomas Lange, 2021. "Job Satisfaction and Implications for Organizational Sustainability: A Resource Efficiency Perspective," Sustainability, MDPI, vol. 13(7), pages 1-17, March.
    2. Rojas, Mariano, 2012. "Do People in Income Poverty Use Their Income Efficiently? A Subjective Well-Being Approach," WIDER Working Paper Series 110, World Institute for Development Economic Research (UNU-WIDER).
    3. Mariano Rojas, 2012. "Do People in Income Poverty Use Their Income Efficiently?: a Subjective Well-Being Approach," WIDER Working Paper Series wp-2012-110, World Institute for Development Economic Research (UNU-WIDER).

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