Happiness of Economists

Arbeitspapier

We study the importance of economists' professional situation toward their life satisfaction based on a unique survey of mostly academic economists. On average, economists report to be highly happy with life. Satisfaction is positively related to spending more time on doing research. The lack of a tenured position decreases satisfaction. However, the extent to which the uncertainty created by the tenure system affects satisfaction varies with the contract terms. The effect is stronger if the contract expires in the near future or cannot be extended. Publication success has no effect if it is controlled for academic rank and the contract duration. The finding suggests that publications are rather a means to an end, e.g., to acquire a tenured position. While the perceived level of external pressure also has no impact, the perceived change of pressure in recent years is positively related to economists' life satisfaction. An explanation is that economists have accepted a high level of pressure when entering academia but are not willing to cope with the recent increase.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 5099

Classification and Topics

• Classification: Wirtschaft ; General Welfare; Well-Being ; Role of Economics; Role of Economists; Market for Economists ; Safety; Job Satisfaction; Related Public Policy
• Subject: happiness ; academic labor market ; extrinsic and intrinsic motivation ; publish or perish

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Feld, Lars P. ; Necker, Sarah ; Frey, Bruno S.
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/105152
• Last update: 10.03.2025, 11:45 AM CET