This paper presents preliminary results of empirical tests for Japanese union workers on a relative utility hypothesis, along the line developed by Clark and Oswald (1996). While our results support the existence of relative utility among Japanese union workers, a caveat is presented. We argue that the traditional approach in constructing a measure of relative income might be inappropriate, at least with regard to Japanese union workers.
|Publication status||Published - 2005|
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)