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Relational capital and appropriate incentives

  • 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)

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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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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  1. 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, vol. 87(4), pages 746-55, September.
  2. Holmstrom, Bengt & Milgrom, Paul, 1994. "The Firm as an Incentive System," American Economic Review, American Economic Association, vol. 84(4), pages 972-91, September.
  3. Bruno S. Frey & Matthias Benz & Alois Stutzer, . "Introducing Procedural Utility: Not only What, but also How Matters," IEW - Working Papers 129, Institute for Empirical Research in Economics - University of Zurich.
  4. David Dickinson & Marie-Claire Villeval, 2004. "Does Monitoring Decrease Work Effort ? The Complementarity Between Agency and Crowding-Out Theorie," Post-Print halshs-00180112, HAL.
  5. 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, vol. 17(1), pages 155-180, Winter.
  6. Falk, Armin & Fehr, Ernst, 2002. "Psychological Foundations of Incentives," CEPR Discussion Papers 3185, C.E.P.R. Discussion Papers.
  7. Edward P. Lazear, 1996. "Performance Pay and Productivity," NBER Working Papers 5672, National Bureau of Economic Research, Inc.
  8. 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.
  9. Georg Kirchsteiger & Ernst Fehr & Simon Gächter, 1997. "Reciprocity as a contract enforcement device: experimental evidence," ULB Institutional Repository 2013/5911, ULB -- Universite Libre de Bruxelles.
  10. Milgrom, Paul & Roberts, John, 1990. "The Economics of Modern Manufacturing: Technology, Strategy, and Organization," American Economic Review, American Economic Association, vol. 80(3), pages 511-28, June.
  11. Agnès Festré, 2010. "Incentives And Social Norms: A Motivation-Based Economic Analysis Of Social Norms," Journal of Economic Surveys, Wiley Blackwell, vol. 24(3), pages 511-538, 07.
  12. Ernst Fehr & Klaus M. Schmidt, . "Fairness, Incentives, and Contractual Choices," IEW - Working Papers 020, Institute for Empirical Research in Economics - University of Zurich.
  13. Roland Benabou & Jean Tirole, 2003. "Intrinsic and Extrinsic Motivation," Review of Economic Studies, Wiley Blackwell, vol. 70(3), pages 489-520, 07.
  14. Pfeffer, Jeffrey, 2010. "Building Sustainable Organizations: The Human Factor," Research Papers 2017r, Stanford University, Graduate School of Business.
  15. 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.
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