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What behavioural economics teaches personnel economics


Backes-Gellner, U; Bessey, D; Pull, K; Tuor, S (2008). What behavioural economics teaches personnel economics. Die Unternehmung, 62(3):217-234.

Abstract

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), it has recently 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 (using 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.

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), it has recently 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 (using 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.

Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:English
Date:2008
Deposited On:21 Nov 2008 12:02
Last Modified:05 Apr 2016 12:34
Publisher:Schweizerische Gesellschaft für Betriebswirtschaft; Versus Verlag
ISSN:0042-059X
Official URL:http://www.unternehmung.ch/
Related URLs:http://www.sagw.ch/de/sgb/publikationen.html (Publisher)

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