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Personnel Economics in Practice, 3rd Edition by Edward Lazear and Michael Gibbs gives readers a rigorous framework for understanding organizational design and the management of employees. Economics has proven to be a powerful approach in the changing study of organizations and human resources by adding rigor and structure and clarifying many important issues. Not only will readers learn and apply ideas from microeconomics, they will also learn principles that will be valuable in their future careers.
Book Synopsis Personnel Economics in Practice by : Edward P. Lazear
Download or read book Personnel Economics in Practice written by Edward P. Lazear and published by John Wiley & Sons. This book was released on 2014-11-03 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personnel Economics in Practice, 3rd Edition by Edward Lazear and Michael Gibbs gives readers a rigorous framework for understanding organizational design and the management of employees. Economics has proven to be a powerful approach in the changing study of organizations and human resources by adding rigor and structure and clarifying many important issues. Not only will readers learn and apply ideas from microeconomics, they will also learn principles that will be valuable in their future careers.
The vast majority of economics majors enter the world of work directly after graduation. Unique among the subfields of economics, only personnel economics looks inside the workplace to apply simple economic theory and precise, transparent empirical research to the central issues of employeeselection, motivation and compensation. Students love this subject because it applies basic microeconomic tools to their working lives in a concrete and useful way. Peter Kuhn's conversational and up-to-date treatment of experiments and research about employment issues in Personnel Economics -incorporating the latest findings from behavioral economic research - provides an enormously interesting, instructive, and much needed textbook on these topics.Personnel Economics functions equally well as a stand-alone personnel textbook, or as supplementary material for courses in labor economics, behavioral economics, experimental economics or game theory. Although the book uses some simple economics tools, the author keeps the technical aspects to theminimum level consistent with understanding the key ideas. Aside from thinking graphically about maximizing utility or profits in the presence of a budget set (all of which are all introduced in the book), the only math a student needs is to find the maximum of a function of a single variable.Calculus is offered as an option, but there are other, easy ways to solve the same problems. All of the mathematics are administered with plenty of hand-holding, and optional problem sets - many of which use spreadsheets to provide intuition for the main results - are available to help cement theintuition. On the empirical side, the book includes an intuitive introduction to the two work-horses of empirical research on personnel issues: designing experiments and using regression to study naturally-occurring data.
Book Synopsis Personnel Economics by : Peter Kuhn
Download or read book Personnel Economics written by Peter Kuhn and published by Oxford University Press, USA. This book was released on 2017-11-21 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt: The vast majority of economics majors enter the world of work directly after graduation. Unique among the subfields of economics, only personnel economics looks inside the workplace to apply simple economic theory and precise, transparent empirical research to the central issues of employeeselection, motivation and compensation. Students love this subject because it applies basic microeconomic tools to their working lives in a concrete and useful way. Peter Kuhn's conversational and up-to-date treatment of experiments and research about employment issues in Personnel Economics -incorporating the latest findings from behavioral economic research - provides an enormously interesting, instructive, and much needed textbook on these topics.Personnel Economics functions equally well as a stand-alone personnel textbook, or as supplementary material for courses in labor economics, behavioral economics, experimental economics or game theory. Although the book uses some simple economics tools, the author keeps the technical aspects to theminimum level consistent with understanding the key ideas. Aside from thinking graphically about maximizing utility or profits in the presence of a budget set (all of which are all introduced in the book), the only math a student needs is to find the maximum of a function of a single variable.Calculus is offered as an option, but there are other, easy ways to solve the same problems. All of the mathematics are administered with plenty of hand-holding, and optional problem sets - many of which use spreadsheets to provide intuition for the main results - are available to help cement theintuition. On the empirical side, the book includes an intuitive introduction to the two work-horses of empirical research on personnel issues: designing experiments and using regression to study naturally-occurring data.
A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.
Book Synopsis The Economics of Artificial Intelligence by : Ajay Agrawal
Download or read book The Economics of Artificial Intelligence written by Ajay Agrawal and published by University of Chicago Press. This book was released on 2024-03-05 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.
Table of Contents 1 Personnel economics and non-competitive labour markets 1 2 The optimal skill ratio 11 3 The hours-employment trade-off 27 4 Temporary or permanent? 45 5 Managing adverse selection in recruiting 62 6 Optimal compensation schemes : foundation 82 7 Pay for performance with wage constraints 107 8 Relative compensation and efficiency wage 132 9 Training and human capital investment 152 10 Training investment in imperfect labour markets 171 11 Job destruction 187 12 Further issues in employment protection legislation 202 13 Teams of group incentives 218 App. A Labour demand at the firm level 232 App. B Constrained optimization 238.
Book Synopsis Personnel Economics in Imperfect Labour Markets by : Pietro Garibaldi
Download or read book Personnel Economics in Imperfect Labour Markets written by Pietro Garibaldi and published by Oxford University Press. This book was released on 2006-03-16 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of Contents 1 Personnel economics and non-competitive labour markets 1 2 The optimal skill ratio 11 3 The hours-employment trade-off 27 4 Temporary or permanent? 45 5 Managing adverse selection in recruiting 62 6 Optimal compensation schemes : foundation 82 7 Pay for performance with wage constraints 107 8 Relative compensation and efficiency wage 132 9 Training and human capital investment 152 10 Training investment in imperfect labour markets 171 11 Job destruction 187 12 Further issues in employment protection legislation 202 13 Teams of group incentives 218 App. A Labour demand at the firm level 232 App. B Constrained optimization 238.
This text provides an introduction to personnel economics, showing how economists can make specific predictions and prescriptions for personnel issues that arise in business on a daily basis. The author focuses on compensation and its relation to worker motivation, selection and teamwork.
Book Synopsis Personnel Economics by : Edward P. Lazear
Download or read book Personnel Economics written by Edward P. Lazear and published by MIT Press. This book was released on 1995 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides an introduction to personnel economics, showing how economists can make specific predictions and prescriptions for personnel issues that arise in business on a daily basis. The author focuses on compensation and its relation to worker motivation, selection and teamwork.
This book examines personnel economics within the context of the professional sport industry. Sport is an effective industry in which to empirically test theories of personnel economics, primarily because the employer-employee relationship in sport is much more visible and transparent than in almost any other industry. Researchers benefit from having data on a host of variables pertaining to individual employees (i.e. players), such as their age, race, national origin, and experience. Researchers also have data on each employee's performance, on their salary, and on who their co-workers (teammates) and managers (coaches) are. The chapters are organized around the core functional areas of personnel economics and cover all aspects of the employment relationship in sport - from recruiting and selection, to pay and performance, to work team design. Each chapter contains a thorough literature review that provides the reader with a sense of the breadth and depth of the work being done in the area, and with a sense as to how the literature can move forward, both in a sport and non-sport context. The book is suitable for an advanced undergraduate course right through to a PhD-level field-course in both management and economics. Academic researchers in the fields of sports economics, personnel economics, human resource management, strategic management and sport management will also find the book of interest.
Book Synopsis Personnel Economics in Sports by : Neil Longley
Download or read book Personnel Economics in Sports written by Neil Longley and published by Edward Elgar Publishing. This book was released on 2018-10-26 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines personnel economics within the context of the professional sport industry. Sport is an effective industry in which to empirically test theories of personnel economics, primarily because the employer-employee relationship in sport is much more visible and transparent than in almost any other industry. Researchers benefit from having data on a host of variables pertaining to individual employees (i.e. players), such as their age, race, national origin, and experience. Researchers also have data on each employee's performance, on their salary, and on who their co-workers (teammates) and managers (coaches) are. The chapters are organized around the core functional areas of personnel economics and cover all aspects of the employment relationship in sport - from recruiting and selection, to pay and performance, to work team design. Each chapter contains a thorough literature review that provides the reader with a sense of the breadth and depth of the work being done in the area, and with a sense as to how the literature can move forward, both in a sport and non-sport context. The book is suitable for an advanced undergraduate course right through to a PhD-level field-course in both management and economics. Academic researchers in the fields of sports economics, personnel economics, human resource management, strategic management and sport management will also find the book of interest.
(E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
Book Synopsis The Handbook of Organizational Economics by : Robert S. Gibbons
Download or read book The Handbook of Organizational Economics written by Robert S. Gibbons and published by Princeton University Press. This book was released on 2013 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt: (E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
Personnel economics, the use of economics for studying human resource issues, is becoming a standard course in business and economics departments around the world. Indeed, after being successfully introduced in North American business schools, the teaching of personnel economics is now growing in Europe and in the rest of the world. Yet, most of the traditional analysis of personnel economics assumes a perfectly competitive labour market, a situation in which wages are fully flexible and dismissals can take place at no cost. Such a setting is inappropriate for most European markets, where wage rigidity and wage compression are widespread phenomena, and where employment protection legislation is very stringent. Personnel Economics in Imperfect Labour Markets aims to describe key personnel issues when firms and human resource managers act in highly regulated labour markets. Written to be accessible to students, the book provides original answers to questions which have previously been left to specialized academic journals. Should hiring take place under temporary or permanent contracts? How can we provide compensation related incentives when minimum wages are binding? How de we solve the employment/hours trade-off? These questions and more are discussed within the text.
Book Synopsis Personnel Economics in Imperfect Labour Markets by : Pietro Garibaldi
Download or read book Personnel Economics in Imperfect Labour Markets written by Pietro Garibaldi and published by OUP Oxford. This book was released on 2006-03-16 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personnel economics, the use of economics for studying human resource issues, is becoming a standard course in business and economics departments around the world. Indeed, after being successfully introduced in North American business schools, the teaching of personnel economics is now growing in Europe and in the rest of the world. Yet, most of the traditional analysis of personnel economics assumes a perfectly competitive labour market, a situation in which wages are fully flexible and dismissals can take place at no cost. Such a setting is inappropriate for most European markets, where wage rigidity and wage compression are widespread phenomena, and where employment protection legislation is very stringent. Personnel Economics in Imperfect Labour Markets aims to describe key personnel issues when firms and human resource managers act in highly regulated labour markets. Written to be accessible to students, the book provides original answers to questions which have previously been left to specialized academic journals. Should hiring take place under temporary or permanent contracts? How can we provide compensation related incentives when minimum wages are binding? How de we solve the employment/hours trade-off? These questions and more are discussed within the text.
Widely regarded as the best, most comprehensive text available for the in-depth study of labor market theories, this textbook calls upon excellent pedagogical elements and empirical research to introduce students to labor economics. The authors' balanced approach to the material enables students to gain an understanding of the background of the field as they explore its latest developments and unique topics not covered in most competing texts. Intended as the basic text for an undergraduate course in labor economics or labor relations, this book also is suitable as a survey or reference text for a graduate level course.
Book Synopsis The Economics of Labor Markets by : Bruce E. Kaufman
Download or read book The Economics of Labor Markets written by Bruce E. Kaufman and published by South Western Educational Publishing. This book was released on 2000 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt: Widely regarded as the best, most comprehensive text available for the in-depth study of labor market theories, this textbook calls upon excellent pedagogical elements and empirical research to introduce students to labor economics. The authors' balanced approach to the material enables students to gain an understanding of the background of the field as they explore its latest developments and unique topics not covered in most competing texts. Intended as the basic text for an undergraduate course in labor economics or labor relations, this book also is suitable as a survey or reference text for a graduate level course.
"How should firms select their employees? How should they design their compensation schemes such that employees are motivated to work hard? How do the performance and compensation of teammates influence workers' motivation and productivity? Personnel economics examines human resource practices and answers questions that are of paramount importance for business leaders around the globe. In this volume, Edward P. Lazear, a founding father of personnel economics and winner of the IZA Prize in Labor Economics 2004, takes stock of the economic analysis of personnel management, and the advancements and achievements that have been made in this field over the past 30 years. The book contains an impressive selection of Lazear's most important papers. It provides a unifying approach to human resource practices and a useful reference on personnel strategies such as hiring, motivating, and training an effective work force."--Publisher's website.
Book Synopsis Inside the Firm by : Edward P. Lazear
Download or read book Inside the Firm written by Edward P. Lazear and published by IZA Prize in Labor Economics. This book was released on 2016-06-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "How should firms select their employees? How should they design their compensation schemes such that employees are motivated to work hard? How do the performance and compensation of teammates influence workers' motivation and productivity? Personnel economics examines human resource practices and answers questions that are of paramount importance for business leaders around the globe. In this volume, Edward P. Lazear, a founding father of personnel economics and winner of the IZA Prize in Labor Economics 2004, takes stock of the economic analysis of personnel management, and the advancements and achievements that have been made in this field over the past 30 years. The book contains an impressive selection of Lazear's most important papers. It provides a unifying approach to human resource practices and a useful reference on personnel strategies such as hiring, motivating, and training an effective work force."--Publisher's website.
