Personnel Economics in Practice Economics is a methodology that has been applied to many areas of human behavior, and has had enormous influence on the study of organizations and human resources. Developed by much of the founding research from Edward Lazear, this economic approach in these areas adds rigor, structure, and clarifies many important issues. The goal of this text is to give the reader a rigorous framework for understanding organizational design and the management of employees. Not only will students learn and apply ideas from microeconomics, but they will also learn principles that will be valuable in their future careers. |
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additional worker analyze answer assume asymmetric information benefits capital chapter college and high competing employers computers conclusions consider cost effective cost per unit costly Current Population Survey Days Inns economic approach economic ideas effect on profit employee’s employees equal example expected value experiment firm-specific Google Gupta high school graduates hire a risky hire more workers hire workers hiring decisions hiring Svensen icosahedron important incentive Independent of Coworkers intuition investment bank issues job candidates job offer less manager describes marginal cost marginal productivity McNaught monthly sales number of high old machines optimal option value organizational design pay to hire personnel potential problem Productivity is Independent professional profit from hiring profitable to employ profitable to hire question risk averse risk neutral risky candidate risky hire salary SCHOOL AND COLLEGE school graduates simple skilled labor star Svensen’s productivity Table take a chance turnover type of worker unit of output valuable