Individual’s expected wages exceed predicted market wages. Rational expectations imply the divergence should be zero. If individuals over-estimate the return from their attributes and view the paid-employment return distribution too favourably, then conditional on market wages, subsequent employment utility is likely to be low through disappointment.
Dawson, C., Hinks, T., & Veliziotis, M. (2017). “Choose to be optimistic, it feels better?” Evidence of optimism on employment utility. Bulletin of Economic Research, 69(4), [428–436]. https://doi.org/10.1111/boer.12107