Subjective Outcomes in Economics

22 Pages Posted: 24 Mar 2004 Last revised: 26 Oct 2022

See all articles by Daniel S. Hamermesh

Daniel S. Hamermesh

University of Texas at Austin - Department of Economics; National Bureau of Economic Research (NBER); IZA Institute of Labor Economics

Date Written: March 2004

Abstract

This study examines the various uses of subjective outcomes as a focus of interest for economists. It outlines the possible channels by which economists can usefully add to what are already massive literatures on such outcomes in the other social sciences. Generally we contribute little if we merely engage in fancier empirical work and still less if we describe subjective outcomes by other subjective outcomes. Our biggest contributions can be in adducing economic theories that allow a better understanding of objective behavior using subjective outcomes, or of the determinants of subjective outcomes; or in understanding subjective outcomes, such as expectations, that underlie objective economic behavior.

Suggested Citation

Hamermesh, Daniel S., Subjective Outcomes in Economics (March 2004). NBER Working Paper No. w10361, Available at SSRN: https://ssrn.com/abstract=516702

Daniel S. Hamermesh (Contact Author)

University of Texas at Austin - Department of Economics ( email )

Austin, TX 78712
United States
512-475-8526 (Phone)
512-471-3510 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany