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Human Resources and Incentive Contracts

In: An Economist’s Guide to Economic History

Author

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  • Andrew Seltzer

    (Royal Holloway, University of London)

Abstract

Personnel economics is the study of contracts between workers and firms. The principal (the employer) hires an agent (the worker) to perform a series of tasks. However, the principal and agent share neither the same underlying objectives nor information sets. This chapter illustrates how research in economic history can help to address challenges relating the employment relationship, including hiring, training, job assignments, and compensation.

Suggested Citation

  • Andrew Seltzer, 2018. "Human Resources and Incentive Contracts," Palgrave Studies in Economic History, in: Matthias Blum & Christopher L. Colvin (ed.), An Economist’s Guide to Economic History, chapter 22, pages 185-192, Palgrave Macmillan.
  • Handle: RePEc:pal:palscp:978-3-319-96568-0_22
    DOI: 10.1007/978-3-319-96568-0_22
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    More about this item

    JEL classification:

    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
    • M55 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Contracting Devices
    • N30 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - General, International, or Comparative

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