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What Behavioural Economics Teaches Personnel Economics

Author

Listed:
  • 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)

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.

Suggested Citation

  • Uschi Backes-Gellner & Donata Bessey & Kerstin Pull & Simone Tuor, 2008. "What Behavioural Economics Teaches Personnel Economics," Working Papers 0077, University of Zurich, Institute for Strategy and Business Economics (ISU).
    • Handle: RePEc:iso:wpaper:0077
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    References listed on IDEAS

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    Cited by:

    1. Matteo Rizzolli & Luca Stanca, 2012. "Judicial Errors and Crime Deterrence: Theory and Experimental Evidence," Journal of Law and Economics, University of Chicago Press, vol. 55(2), pages 311-338.
    2. Michael Mueller, 2016. "Does Sporting Activity Foster Career Advancement?," Eastern European Business and Economics Journal, Eastern European Business and Economics Studies Centre, vol. 2(4), pages 285-298.
    3. Julie De Pril & Cécile Godfroid, 2017. "How to Reconcile Financial Incentives and Prosocial Motivation of Loan Officers in Microfinance?," Working Papers CEB 17-011, ULB -- Universite Libre de Bruxelles.
    4. Müller, Michael, 2016. "Fördert sportliche Aktivität den beruflichen Aufstieg?," Discussion Papers of the Institute for Organisational Economics 02/2016, University of Münster, Institute for Organisational Economics.

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    More about this item

    Keywords

    Behavioural Economics; Personnel Economics;

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

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