These reviews emphasize the generality of the economic approach and argue that it explains observed HR practices, such as the rising variance in pay across individuals, increased use of pay-for-performance schemes, greater reliance on teamwork, and the like better than rival theories.
Thursday 3 January 2008
Review Papers on Personnel Economics
Peter Klein at Organizations and Markets draws our attention to two review papers on Personnel Economics. One is a new NBER working paper by Edward P. Lazear and Paul Oyer entitled Personnel Economics, the other is also an NBER working paper with the title Personnel Economics: The Economist's View of Human Resources. It is by Lazear and Kathryn Shaw and destined for a future issue of the Journal of Economic Perspectives. Klein comments
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