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What Behavioural Economics Teaches Personnel Economics

Uschi Backes-Gellner, Donata Bessey (), Kerstin Pull and Simone Tuor Sartore

No 77, Working Papers from University of Zurich, Institute for Strategy and Business Economics (ISU)

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), 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.

Keywords: Behavioural Economics; Personnel Economics (search for similar items in EconPapers)
JEL-codes: C9 J3 M52 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2008-02
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-hpe, nep-lab, nep-pke and nep-upt
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