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Relational capital and appropriate incentives

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  • Agnès Festré

    ()
    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR7321 - Université de Nice Sophia Antipolis (UNS), CRIISEA - Centre de Recherche sur les Institutions, l'Industrie et les Systèmes Economiques d'Amiens - Université de Picardie Jules Verne)

  • Luca Giustiniano

    ()
    (Dipartimento di Economia - University LUISS Guido Carli, Rome)

Abstract

This paper attempts to give some hints for human resources management that are founded on a motivation-based economic analysis of incentives and the idea of relational capital. It is argued that cross-fertilization between traditional economic literature on incentives, experimental economics and research in cognitive psychology can provide useful insights on how best to design incentives schemes in firms. This analysis promotes a diffused style of leadership which could render human resources development more sustainable while the traditional hierarchical one is losing grasp with reality.

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Bibliographic Info

Paper provided by HAL in its series Post-Print with number halshs-00721526.

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Date of creation: 2011
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Publication status: Published - Presented, Human Resource Development and Sustainability, 2011, Tapei, Hong Kong
Handle: RePEc:hal:journl:halshs-00721526

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00721526
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Related research

Keywords: Human resource management; motivation crowding out; leadership;

References

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  1. David Dickinson & Marie-Claire Villeval, 2005. "Does Monitoring Decrease Work Effort? The Complementarity Between Agency and Crowding-Out Theories," Working Papers, Department of Economics, Appalachian State University 05-12, Department of Economics, Appalachian State University.
  2. Ernst Fehr & Simon Gachter & Georg Kirchsteiger, 1997. "Reciprocity as a Contract Enforcement Device: Experimental Evidence," Econometrica, Econometric Society, Econometric Society, vol. 65(4), pages 833-860, July.
  3. Casey Ichniowski & Kathryn Shaw, 2003. "Beyond Incentive Pay: Insiders' Estimates of the Value of Complementary Human Resource Management Practices," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 17(1), pages 155-180, Winter.
  4. Fehr, Ernst & Falk, Armin, 2002. "Psychological Foundations of Incentives," IZA Discussion Papers 507, Institute for the Study of Labor (IZA).
  5. Fehr, Ernst & Schmidt, Klaus M., 2000. "Fairness, incentives, and contractual choices," European Economic Review, Elsevier, Elsevier, vol. 44(4-6), pages 1057-1068, May.
  6. Giovanni Dosi & Daniel A. Levinthal & Luigi Marengo, 2003. "Bridging contested terrain: linking incentive-based and learning perspectives on organizational evolution," Industrial and Corporate Change, Oxford University Press, vol. 12(2), pages 413-436, April.
  7. Milgrom, Paul & Roberts, John, 1990. "The Economics of Modern Manufacturing: Technology, Strategy, and Organization," American Economic Review, American Economic Association, American Economic Association, vol. 80(3), pages 511-28, June.
  8. Nathalie Greenan & Jacques Mairesse, 1999. "Organizational Change in French Manufacturing: What Do We Learn From Firm Representatives and From Their Employees?," NBER Working Papers 7285, National Bureau of Economic Research, Inc.
  9. Roland Benabou & Jean Tirole, 2003. "Intrinsic and Extrinsic Motivation," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 70(3), pages 489-520, 07.
  10. Edward P. Lazear, 1996. "Performance Pay and Productivity," NBER Working Papers 5672, National Bureau of Economic Research, Inc.
  11. Agnès Festré, 2010. "Incentives And Social Norms: A Motivation-Based Economic Analysis Of Social Norms," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 24(3), pages 511-538, 07.
  12. Bruno S. Frey & Matthias Benz & Alois Stutzer, 2003. "Introducing Procedural Utility: Not only What, but also How Matters," CREMA Working Paper Series, Center for Research in Economics, Management and the Arts (CREMA) 2003-02, Center for Research in Economics, Management and the Arts (CREMA).
  13. Holmstrom, Bengt & Milgrom, Paul, 1994. "The Firm as an Incentive System," American Economic Review, American Economic Association, American Economic Association, vol. 84(4), pages 972-91, September.
  14. Frey, Bruno S & Oberholzer-Gee, Felix, 1997. "The Cost of Price Incentives: An Empirical Analysis of Motivation Crowding-Out," American Economic Review, American Economic Association, American Economic Association, vol. 87(4), pages 746-55, September.
  15. Pfeffer, Jeffrey, 2010. "Building Sustainable Organizations: The Human Factor," Research Papers, Stanford University, Graduate School of Business 2017r, Stanford University, Graduate School of Business.
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