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Economics question: how do you model “the job is beneath me” effects in labor markets? Where people accept lower material conditions or even destitution rather than do certain kinds of work?
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As pointed out in another comment, in a model where utility and money are the same thing, you're looking at the concept of a compensating differential. One could posit more complex preferences (e.g., over tuples of income/job-type), but I doubt anyone does this in applied papers.
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