How many pears would a pear packer pack if a pear packer could pack pears at quasi-exogenously varying piece rates?

摘要

We examine labor supply using a unique dataset collected from a large pear-packing factory. Pear packers face both expected and unexpected shocks to their wages, and we use this to evaluate different models of inter-temporal labor supply. We find strong evidence for reference-dependent preferences, but only mixed support for models of rational-expectations-based targets.