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Firms' Choice of Method of Pay

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Charles Brown

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Abstract

Three types of pay-setting methods are piece rates (pay mechanically linked to output), merit pay (pay based on less formal judgments by one's supervisor), and standard rates (pay based on one's job classification and perhaps seniority, but not directly on performance). Firms' choice among methods depends on balancing the gains from more precise links between performance and pay against the costs of either precise or judgmental measures of output. Using data from the BLS Industry Wage Study program, hypotheses suggested by this observation are tested and for the most part confirmed.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3065.

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Date of creation: May 1990
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Handle: RePEc:nbr:nberwo:3065

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Dennis J. Aigner & Glen G. Cain, 1977. "Statistical theories of discrimination in labor markets," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 30(2), pages 175-187, January.
  2. Barron, John M & Loewenstein, Mark A, 1986. "On Imperfect Evaluation and Earning Differentials," Economic Inquiry, Oxford University Press, vol. 24(4), pages 595-614, October.
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This page was last updated on 2009-11-21.

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