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DAVRANIŞSAL İKTİSAT PERSPEKTİFİNDEN EMEK ARZI ANALİZİ

Year 2022, Volume: 9 Issue: 3, 1901 - 1919, 29.11.2022
https://doi.org/10.30798/makuiibf.1034707

Abstract

İktisat yazınında son yıllarda öne çıkan davranışsal iktisat yaklaşımı tüketici teorisi, oyun teorisi, finansal piyasalar, yatırım ve tüketim davranışları, karar alma süreçleri, kamu politikaları gibi birçok alanda etki alanını genişletmektedir. Davranışsal finans, davranışsal kamu politikaları, davranışsal oyun teorisi bu anlamda davranışsal iktisadın geliştirici etkisinin çıktıları olarak ifade edilebilir. Emek piyasasının davranışsal iktisat yaklaşımı üzerinden ele alınması alana dair anlayışın gelişimi açısından önemlidir. Emek piyasası geniş kapsamlı bir araştırma alanı olduğundan çalışmanın kapsamı emek arzı ile sınırlandırılmıştır. Bu bakımdan çalışmanın amacı davranışsal iktisat yaklaşımı çerçevesinde emek arzını neoklasik iktisat yaklaşımı ile karşılaştırmalı olarak analiz etmek ve ileri araştırmalara katkı sağlamaktır. Çalışma eleştirel bir literatür incelemesi niteliğine sahiptir. Çalışmada (i) emek arzı kararlarında tam rasyonelliğin geçerli olmadığı (ii) emek piyasasında davranışsal ve bilişsel yanlılıkların söz konusu olduğu (iii) davranışsal iktisat yaklaşımının emek arzı davranışlarını ve karar süreçlerini anlamaya dair önemli katkılar sunduğu (iv) davranışsal iktisat yaklaşımının emek alanındaki teorileri iyileştirme ve alternetif teoriler geliştirme potansiyeli taşıdığı (v) emek ekonomisinin davranışsal iktisat yaklaşımının entegrasyonuna açık olduğu sonucuna ulaşılmıştır.

References

  • Agell, J., & Lundborg, P. (2003). Survey Evidence on Wage Rigidity and Unemployment. Scandinavian Journal of Economics, 105(1), 15-30.
  • Akerlof, A. G., & Dickens, T. W. (1982). The Economic Consequences of Cognitive Dissonance. The American Economic Review, 72(3), 307-319.
  • Altman, M. (2014). Insights from Behavioral Economics on How Labor Markets Work. Working Paper Series(3466). doi:http://dx.doi.org/10.2139/ssrn.2467741
  • Axelrad, H., Luski, I., & Malul, M. (2016). Behavioral biases in the labor market, differences between older and younger individuals. Journal of Behavioral and Experimental Economics, 60, 23-28.
  • Babcock, L., Congdon, W. J., Katz, F. L., & Mullainathan, S. (2012). Notes on Behavioral Economics and Labor Market Policy. IZA Journal of Labor Policy, 1(2).
  • Barberis, N. C. (2013). Thirty Yers of Prospect Theory in Economics: A Review and Assessment. Journal of Economic Perspectives, 27(1), 173-196.
  • Becker, G. S. (1993). The Economic Way of Looking at Behavior. Journal of Political Economy, 101(3), 385-409.
  • Berg, N. (2006). Behavioral Labor Economics. In M. ALTMAN, Handbook of Contemporary of Behavioral Economics (pp. 457-478). New York.
  • Bewley, T. F. (1999). Why wages don't fall during a recession. Harvard University Press.
  • Borjas, G. (2016). Labor Economics. Newyork: McGraw-Hill Education.
  • Cahuc, P., & Zylberberg, A. (2004). Labor Economics. London: The MIT Press.
  • Camerer, C., Babcock, L., Loewenstein, G., & Thaler, R. (1997). Labor Supply of New York City Cabdrivers: One Day At A Time. The Quarterly Journal of Economics, 407-441.
  • Dohmen, T. (2014). Behavioral Labor Economics: Advances and Future Directions. Labor Economics, 30, 71-85.
  • Driscoll, J., & Holden, S. (2014). Behavioral Economics and Macroeconomic Models. Journal of Macroeconomics, 41, 133-147.
  • Dunn, L. F. (1996). Loss Aversion and Adaptation in the Labor Market: Empirical Indifference Functions and Labor Supply. The Review of Economics and Statistics, 78(3), 441-450.
  • Elster, J. (2007). Explaining Social Behavior: More Nuts and Bolts for the Social Sciences. New York: Cambridge University Press.
  • Farber, S. H. (2003). Is Tomorrow Another Day? The Labor Supply of New York Cab Drivers. NBER Working Paper Series.
  • Fehr, E. G. (2009). A Behavioral Account of the Labor Market: The Role of Fairness Concerns. The Annual Reviews of Economics, 1, 335-384.
  • Fehr, E., & Falk, A. (1999). Wage Rigidity in a Competitive Incomplete Contract Market. Journal of Political Economy, 107(1), 106-134.
  • Fehr, E., & Falk, A. (2002). Psychological foundations of incentives. European Economic Review, 46, 687-724.
  • Fehr, E., & Goette, L. (2007). Do Workers Work More if Wages Are High? Evidence from a Randomized Field Experiment. The American Economic Review, 97(1), 298-317.
  • Gilovic, T., Griffin, D., & Kahneman, D. (Eds.). (2002). Heuristics and Biases: The Psychology of Intuitive Judgment. Cambridge: Cambridge University Press.
  • Horton, J. J., & Tampe, P. (2015). Labor Economists Get Their Microscope: Big Data and Labor Market Analysis. Big Data, 3(3), 130-137.
  • Kahneman, D. (2003a). A Psychological Perspective on Economics. The American Economic Review, 93, 162-168.
  • Kahneman, D. (2003b). Maps of Bounded Rationality: Psychology for Behavioral Economics. The American Economic Review, 93, 1449-1475.
  • Kahneman, D., Knetsch, J. L., & Thaler, R. H. (1986). Fairness and the Assumptions of Economics. The Journal of Business, 59(4), 285-300.
  • Kaufman, B. E. (1999). Expanding The Behavioral Foundation of Labor Economics. Industrial and Labor Relations Review, 52, 361-392.
  • Keren, G. (2011). Perspectives on Framing (1 ed.). New York: Psychology Press.
  • Manyika, J., Chui, M., Brown, B., Bughin, J., Dobbs, R., Roxburgh, C., & Byers, A. (2011). Big data: The next frontier for innovation, competition, and productivity. McKinsey Global Institute.
  • Messick, D. M., & Sentis, K. P. (1979). Fairness and Preference. Journal of Experimental and Social Psychology, 15, 418-434.
  • Rutherford, M. (2001). Institutional Economics: Then and Now. Journal of Economic Perspectives, 15(3), 173–194.
  • Samuelson, W., & Zeckhauser, R. (1988). Status quo bias in decision making. The Journal of Risk and Uncertainty, 1, 7-59.
  • Shafir, E., Tversky, A., & Diamond, P. A. (1997). On Money Illusion. The Quarterly Journal of Economics, 112, 341-374.
  • Simon, H. A. (1955). A Behaviorl Model of Rational Choice. The Quarterly Journal of Economics, 69(1), 99-118.
  • Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving Decisions About Health, Wealth,and Happiness. New Haven & London: Yale University Press.
  • Thaler, R., & Mullainathan, S. (2000). Behavioral Economics. NBER Working Paper Series.
  • Tversky, A., & Kahneman. (1986). Rational Choice and the Framing of Decisions. The Journal of Business, 59(4), 251-278.
  • Tversky, A., & Kahneman, D. (1981). The Framing of Decisions and the Psychology of Choice. Science, 211(4481), 453-458.
  • Tversky, A., & Kahneman, D. (1986). Rational Choice and the Framing of Decisions. The Journal of Business, 59, 251-278.
  • Wang, X. (2017). Behavioral Labor Economics. In R. Frantz, S. H. C. Chen, K. Dopfer, F. Heukelom, & S. Mousavi (Eds.), Handbook of Behavioral Economics (pp. 365-378). New York: Routledge.
  • Winter-Ebmer, R. (2014). What is (not) behavioural in labour economics? Labor Economics, 30, 86-87.

A BEHAVIORAL PERSPECTIVE ON LABOR SUPPLY ANALYSIS

Year 2022, Volume: 9 Issue: 3, 1901 - 1919, 29.11.2022
https://doi.org/10.30798/makuiibf.1034707

Abstract

The behavioral economics approach expands its domains in many areas such as consumer theory, game theory, financial markets, decision-making processes, and public policies. Behavioral finance, behavioral public policies, behavioral game theory may expressed as the outputs of the effect of behavioral economics. The consideration of the labor market through the behavioral economics approach is important for the development of the understanding of the field. The purpose of this paper is to point out the potentials of behavioral labor economics and analyze the labor supply within the framework of behavioral economics. In this regard, the scope of the study is limited by the labor supply. The findings of the study as follow: (i) full rationality is not valid to an accurate analysis in terms of labor supply decisions (ii) there are behavioral and cognitive biases in the labor market (iii) the behavioral economics approach has important contributions to understanding decision processes and behaviors of the labor supply (iv) it has a potential to improve theories in the field of labor and to develop alternative theories, (v) the labor economy is open to integrating and adapting to the approach of behavioral economics.

References

  • Agell, J., & Lundborg, P. (2003). Survey Evidence on Wage Rigidity and Unemployment. Scandinavian Journal of Economics, 105(1), 15-30.
  • Akerlof, A. G., & Dickens, T. W. (1982). The Economic Consequences of Cognitive Dissonance. The American Economic Review, 72(3), 307-319.
  • Altman, M. (2014). Insights from Behavioral Economics on How Labor Markets Work. Working Paper Series(3466). doi:http://dx.doi.org/10.2139/ssrn.2467741
  • Axelrad, H., Luski, I., & Malul, M. (2016). Behavioral biases in the labor market, differences between older and younger individuals. Journal of Behavioral and Experimental Economics, 60, 23-28.
  • Babcock, L., Congdon, W. J., Katz, F. L., & Mullainathan, S. (2012). Notes on Behavioral Economics and Labor Market Policy. IZA Journal of Labor Policy, 1(2).
  • Barberis, N. C. (2013). Thirty Yers of Prospect Theory in Economics: A Review and Assessment. Journal of Economic Perspectives, 27(1), 173-196.
  • Becker, G. S. (1993). The Economic Way of Looking at Behavior. Journal of Political Economy, 101(3), 385-409.
  • Berg, N. (2006). Behavioral Labor Economics. In M. ALTMAN, Handbook of Contemporary of Behavioral Economics (pp. 457-478). New York.
  • Bewley, T. F. (1999). Why wages don't fall during a recession. Harvard University Press.
  • Borjas, G. (2016). Labor Economics. Newyork: McGraw-Hill Education.
  • Cahuc, P., & Zylberberg, A. (2004). Labor Economics. London: The MIT Press.
  • Camerer, C., Babcock, L., Loewenstein, G., & Thaler, R. (1997). Labor Supply of New York City Cabdrivers: One Day At A Time. The Quarterly Journal of Economics, 407-441.
  • Dohmen, T. (2014). Behavioral Labor Economics: Advances and Future Directions. Labor Economics, 30, 71-85.
  • Driscoll, J., & Holden, S. (2014). Behavioral Economics and Macroeconomic Models. Journal of Macroeconomics, 41, 133-147.
  • Dunn, L. F. (1996). Loss Aversion and Adaptation in the Labor Market: Empirical Indifference Functions and Labor Supply. The Review of Economics and Statistics, 78(3), 441-450.
  • Elster, J. (2007). Explaining Social Behavior: More Nuts and Bolts for the Social Sciences. New York: Cambridge University Press.
  • Farber, S. H. (2003). Is Tomorrow Another Day? The Labor Supply of New York Cab Drivers. NBER Working Paper Series.
  • Fehr, E. G. (2009). A Behavioral Account of the Labor Market: The Role of Fairness Concerns. The Annual Reviews of Economics, 1, 335-384.
  • Fehr, E., & Falk, A. (1999). Wage Rigidity in a Competitive Incomplete Contract Market. Journal of Political Economy, 107(1), 106-134.
  • Fehr, E., & Falk, A. (2002). Psychological foundations of incentives. European Economic Review, 46, 687-724.
  • Fehr, E., & Goette, L. (2007). Do Workers Work More if Wages Are High? Evidence from a Randomized Field Experiment. The American Economic Review, 97(1), 298-317.
  • Gilovic, T., Griffin, D., & Kahneman, D. (Eds.). (2002). Heuristics and Biases: The Psychology of Intuitive Judgment. Cambridge: Cambridge University Press.
  • Horton, J. J., & Tampe, P. (2015). Labor Economists Get Their Microscope: Big Data and Labor Market Analysis. Big Data, 3(3), 130-137.
  • Kahneman, D. (2003a). A Psychological Perspective on Economics. The American Economic Review, 93, 162-168.
  • Kahneman, D. (2003b). Maps of Bounded Rationality: Psychology for Behavioral Economics. The American Economic Review, 93, 1449-1475.
  • Kahneman, D., Knetsch, J. L., & Thaler, R. H. (1986). Fairness and the Assumptions of Economics. The Journal of Business, 59(4), 285-300.
  • Kaufman, B. E. (1999). Expanding The Behavioral Foundation of Labor Economics. Industrial and Labor Relations Review, 52, 361-392.
  • Keren, G. (2011). Perspectives on Framing (1 ed.). New York: Psychology Press.
  • Manyika, J., Chui, M., Brown, B., Bughin, J., Dobbs, R., Roxburgh, C., & Byers, A. (2011). Big data: The next frontier for innovation, competition, and productivity. McKinsey Global Institute.
  • Messick, D. M., & Sentis, K. P. (1979). Fairness and Preference. Journal of Experimental and Social Psychology, 15, 418-434.
  • Rutherford, M. (2001). Institutional Economics: Then and Now. Journal of Economic Perspectives, 15(3), 173–194.
  • Samuelson, W., & Zeckhauser, R. (1988). Status quo bias in decision making. The Journal of Risk and Uncertainty, 1, 7-59.
  • Shafir, E., Tversky, A., & Diamond, P. A. (1997). On Money Illusion. The Quarterly Journal of Economics, 112, 341-374.
  • Simon, H. A. (1955). A Behaviorl Model of Rational Choice. The Quarterly Journal of Economics, 69(1), 99-118.
  • Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving Decisions About Health, Wealth,and Happiness. New Haven & London: Yale University Press.
  • Thaler, R., & Mullainathan, S. (2000). Behavioral Economics. NBER Working Paper Series.
  • Tversky, A., & Kahneman. (1986). Rational Choice and the Framing of Decisions. The Journal of Business, 59(4), 251-278.
  • Tversky, A., & Kahneman, D. (1981). The Framing of Decisions and the Psychology of Choice. Science, 211(4481), 453-458.
  • Tversky, A., & Kahneman, D. (1986). Rational Choice and the Framing of Decisions. The Journal of Business, 59, 251-278.
  • Wang, X. (2017). Behavioral Labor Economics. In R. Frantz, S. H. C. Chen, K. Dopfer, F. Heukelom, & S. Mousavi (Eds.), Handbook of Behavioral Economics (pp. 365-378). New York: Routledge.
  • Winter-Ebmer, R. (2014). What is (not) behavioural in labour economics? Labor Economics, 30, 86-87.
There are 41 citations in total.

Details

Primary Language Turkish
Journal Section Research Articles
Authors

Zeynep Sümeyra Bakır 0000-0001-7546-6743

Senem Çakmak Şahin 0000-0003-3395-9122

Early Pub Date November 27, 2022
Publication Date November 29, 2022
Submission Date December 9, 2021
Published in Issue Year 2022 Volume: 9 Issue: 3

Cite

APA Bakır, Z. S., & Çakmak Şahin, S. (2022). DAVRANIŞSAL İKTİSAT PERSPEKTİFİNDEN EMEK ARZI ANALİZİ. Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty, 9(3), 1901-1919. https://doi.org/10.30798/makuiibf.1034707