Expectancy‐value theory and unemployment effects

This article describes how expectancy‐value theory can be applied to the analysis of two key topics in unemployment research, the impact of unemployment on psychological well‐being and job‐seeking behaviour. The main concepts used in the expectancy‐value theory are summarized and the theoretical framework is then related to the two topics and illustrated with research examples. The approach is seen to be more directly applicable to job‐seeking behaviour than to psychological well‐being, although it may also clarify the latter topic given additional assumptions. It is concluded that expectancy‐value theory is one of a number of possible approaches whose application could provide new ways of examining unemployment effects. It needs to be supplemented by other approaches from industrial/organizational psychology, from general psychology, and from other social sciences.