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Overpayment and earnings satisfaction: an application of an ordered response Tobit Model

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  • Wim Groot
  • Henriette Maassen Van Den Brink

Abstract

In this paper an ordered response Tobit model is specified to determine the effects of absolute wages and relative overpayment on satisfaction with earnings. The joint estimations of wages and satisfaction with earnings allows us to disentangle the effects of relative and absolute wages on satisfaction with earnings. The model is estimated on two different data sets. All estimations show that satisfaction with earnings is determined by relative wages rather than by absolute wage levels. The results may have implications for pay policies of firms

Suggested Citation

  • Wim Groot & Henriette Maassen Van Den Brink, 1999. "Overpayment and earnings satisfaction: an application of an ordered response Tobit Model," Applied Economics Letters, Taylor & Francis Journals, vol. 6(4), pages 235-238.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:4:p:235-238
    DOI: 10.1080/135048599353410
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    References listed on IDEAS

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    1. P. J. Sloane & H. Williams, 2000. "Job Satisfaction, Comparison Earnings, and Gender," LABOUR, CEIS, vol. 14(3), pages 473-502, September.
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    Cited by:

    1. Cardoso, Ana Rute, 2012. "Money and rank in the labor market," Economics Letters, Elsevier, vol. 115(2), pages 325-328.
    2. Kingdon, Geeta Gandhi & Knight, John, 2007. "Community, comparisons and subjective well-being in a divided society," Journal of Economic Behavior & Organization, Elsevier, vol. 64(1), pages 69-90, September.
    3. Marc F. Bellemare & Christopher B. Barrett, 2006. "An Ordered Tobit Model of Market Participation: Evidence from Kenya and Ethiopia," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(2), pages 324-337.
    4. Laetitia Hauret & Donald R. Williams, 2019. "Relative Income and Pay Satisfaction: Further Evidence on the Role of the Reference Group," Journal of Happiness Studies, Springer, vol. 20(1), pages 307-329, January.
    5. Kingdon, Geeta Gandhi & Knight, John, 2007. "Community, comparisons and subjective well-being in a divided society," Journal of Economic Behavior & Organization, Elsevier, vol. 64(1), pages 69-90, September.

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