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What Behavioural Economics Teaches Personnel Economics

  • Uschi Backes-Gellner

    ()

    (Institute for Strategy and Business Economics, University of Zurich)

  • Donata Bessey

    ()

    (Institute for Strategy and Business Economics, University of Zurich)

  • Kerstin Pull

    (Eberhard Karls Universitaet Tuebingen)

  • Simone Tuor

    ()

    (Institute for Strategy and Business Economics, University of Zurich)

In this survey article, we review results from behavioural and experimental economics that have a potential application in the field of personnel economics. While personnel economics started out with a “clean” economic perspective on human resource management (HRM), recently it has broadened its perspective by increasingly taking into account the results from laboratory experiments. Besides having inspired theory-building, the integration of behavioural economics into personnel economics has gone hand in hand with a strengthening of empirical analyses (field experiments and survey data) complementing the findings from the laboratory. Concentrating on employee compensation as one particular field of application, we show that for personnel economics there is indeed much to be learnt from the recent developments in behavioural economics. Moreover, integrating behavioural economics into personnel economics bears the chance of eventually reconciling personnel economics and “classic” HRM analysis that has a long tradition of relying on social psychology as a classical point of reference.

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File URL: http://repec.business.uzh.ch/RePEc/iso/ISU_WPS/77_ISU_full.pdf
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Paper provided by University of Zurich, Institute for Strategy and Business Economics (ISU) in its series Working Papers with number 0077.

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Length: 15 pages
Date of creation: Feb 2008
Date of revision:
Handle: RePEc:iso:wpaper:0077
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  1. Guth, Werner & Pull, Kerstin, 2004. "Will equity evolve?: an indirect evolutionary approach," European Journal of Political Economy, Elsevier, vol. 20(1), pages 273-282, March.
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  11. Colin F. Camerer, 1997. "Progress in Behavioral Game Theory," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 167-188, Fall.
  12. Uschi Backes-Gellner & Johannes Mure & Simone Tuor, 2006. "The Puzzle of Non-Participation in Continuing Training – An Empirical Study of Permanent vs. Occasional Non-Participation," Working Papers 0058, University of Zurich, Institute for Strategy and Business Economics (ISU).
  13. Donata Bessey & Uschi Backes-Gellner, 2007. "Premature Apprenticeship Terminations: An Economic Analysis," Economics of Education Working Paper Series 0002, University of Zurich, Institute for Strategy and Business Economics (ISU).
  14. Uschi Backes-Gellner & Kerstin Pull, 2007. "Tournament Incentives and Contestant Heterogeneity: Empirical Evidence from the Organizational Practice," Working Papers 0075, University of Zurich, Institute for Strategy and Business Economics (ISU).
  15. George A. Akerlof & Janet L. Yellen, 1990. "The Fair Wage-Effort Hypothesis and Unemployment," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 255-283.
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