Labour Supply, Life Satisfaction, and the (Dis)Utility of Work*
发现工作时长与幸福感呈倒U型关系：适度工作提升幸福感，但过长则产生边际负效用，调和了经济学中“劳动负效用”假设与失业者更不幸福这一实证发现。
Abstract In economic theory, it is typically assumed that there is a “disutility of labour”. However, empirical research on subjective well‐being has consistently shown that unemployed people are less happy than employed people, even after taking income differences into account. In this paper, we attempt to reconcile both findings. We show that happiness and work hours exhibit an inverse U‐shaped relation – working longer raises the level of happiness, as long as the total working time is not too long. Hence, working can be beneficial for happiness and, at the same time, it can exert a disutility at the margin.