Compensation and Incentives in the Workplace
By Edward P. Lazear. Journal of Economic Perspectives, 2018
179 citations recorded by the source corpus.
Labor is supplied because most of us must work to live. Indeed, it is called “work” in part because without compensation, the overwhelming majority of workers would not otherwise perform the tasks. The theme of this essay is that incentives affect behavior and that economics as a science has made good progress in specifying how compensation and its form influences worker effort. This is a broad topic, and the purpose here is not a comprehensive literature review on each of many topics. Instead, a sample of some of the most applicable papers are discussed with the goal of demonstrating that compensation, incentives, and productivity are inseparably linked.
Subfields: Economics and Econometrics, Safety Research
View Paper: https://www.semanticscholar.org/paper/45ffc035d6eb94dd9c42e5a53ebe83da503e5935
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Citations in the corpus
- What makes work meaningful and why economists should care about it (2020, background): “Nevertheless, despite the recent attention to non-monetary work-incentives (Lazear, 2018), only two economics papers have called for incorporating work meaningfulness in standard labour supply models (Cassar and Meier, 2018; Spencer, 2015).”