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Piece Rates Fixed Wages And Incentive Effects
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Book Synopsis Piece Rates, Fixed Wages, and Incentive Effects by : Harry J. Paarsch
Download or read book Piece Rates, Fixed Wages, and Incentive Effects written by Harry J. Paarsch and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop and estimate an agency model of worker behavior under piece rates and fixed wages. The model implies optimal decision rules for the firm's choice of a compensation system as a function of working conditions. Our model also implies an upper and lower bound to the incentive effect (the productivity gain realized by paying workers piece rates rather than fixed wages) that can be estimated using regression methods. Using daily productivity data collected from the payroll records of a British Columbia tree-planting firm, we estimate these bounds to be an 8.8 and a 60.4 percent increase in productivity. Structural estimation, which accounts for the firm?s optimal choice of a compensation system, suggests that incentives caused a 22.6 percent increase in productivity. However, only part of this increase represents valuable output because workers respond to incentives, in part, by reducing quality.
Book Synopsis Piece Rates, Fixed Wages, and Incentive Effects by : Harry J. Paarsch
Download or read book Piece Rates, Fixed Wages, and Incentive Effects written by Harry J. Paarsch and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Piece Rates, Fixed Wages, and Incentive Effects by : Harry J. Paarsch
Download or read book Piece Rates, Fixed Wages, and Incentive Effects written by Harry J. Paarsch and published by Québec : Université Laval, Dép. d'économique. This book was released on 1996 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Piece Rate Vs. Time Rate by : Eric Seiler
Download or read book Piece Rate Vs. Time Rate written by Eric Seiler and published by . This book was released on 1982 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a detailed examination of the effect of piece rates and other forms of incentive compensation on individual employee earnings. The study examines the impact of incentives on the earnings of over 100,000 employees in 500 firms within the footwear and men's and boys' clothing industries. Two distinct incentive effects are observed. First, incentive workers' earnings are more disperse than identical time workers' earnings within both firms and occupations. This greater variance is maintained with the addition of controls for heterogeneity of individual characteristics between the two sectors. Second, incentive workers receive an earnings premium, in part to compensate for the greater variation in their income, and partially as a result of an incentive- effort effect. The incentive earnings premium averages 14%, controlling for individual characteristics, occupational classification, and individual firms. Subsequent decomposition of the incentive-earnings premium reveals that the compensating differential for variation in earnings accounts for a minority of the incentive earnings premium. This supports the view that increased effort by incentive employees leads to relatively greater earnings
Book Synopsis Piece Rates, Fixed Wages and Incentives : Evidence from a Field Experiment by : Shearer, Bruce
Download or read book Piece Rates, Fixed Wages and Incentives : Evidence from a Field Experiment written by Shearer, Bruce and published by Montréal : CIRANO. This book was released on 2003 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Piece-rate, Premium and Bonus by : J. E. Prosser
Download or read book Piece-rate, Premium and Bonus written by J. E. Prosser and published by . This book was released on 1919 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Incentive-wage Plans and Collective Bargaining by : Fred Henry Joiner
Download or read book Incentive-wage Plans and Collective Bargaining written by Fred Henry Joiner and published by . This book was released on 1942 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Structure of Wages by : Edward P. Lazear
Download or read book The Structure of Wages written by Edward P. Lazear and published by University of Chicago Press. This book was released on 2009-05-15 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.
Book Synopsis Handbook of Labor Economics by : Orley Ashenfelter
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 2010-12-09 with total page 863 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Book Synopsis Ambiguity in Performance Pay by : David J. Cooper
Download or read book Ambiguity in Performance Pay written by David J. Cooper and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many incentive contracts are inherently ambiguous, lacking an explicit mapping between performance and pay. Using an online labor market, Amazon Mechanical Turk, we study the effect of ambiguous incentives on willingness to accept contracts to do a real-effort task, the probability of completing the task, and performance at the task. Even modest levels of ambiguity about the relationship between performance and pay are sufficient to eliminate the positive selection effect associated with piece rates, as high ability individuals are no more likely than low ability individuals to accept a contract. Piece rate contracts significantly improve performance relative to fixed wages, primarily due to selection, but this positive effect is not present with ambiguous incentive contracts. Modest levels of ambiguity reduce the probability that subjects accept an incentive contract and all types of ambiguous incentive contracts increase the probability of quitting after having accepted an incentive contract. Information about individual ability at the task reduces the probability that subjects choose and complete the task.
Book Synopsis The Impact of Incentive Plans on Productivity, Worker Quality, and the Extent of Supervision by : Daniel Glenn Hansen
Download or read book The Impact of Incentive Plans on Productivity, Worker Quality, and the Extent of Supervision written by Daniel Glenn Hansen and published by . This book was released on 1997 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Tiered Goals when Performers Receive Fixed and Incentive Pay by : Alejandro Ramos (Psychologist)
Download or read book The Effects of Tiered Goals when Performers Receive Fixed and Incentive Pay written by Alejandro Ramos (Psychologist) and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study was to compare the performance of participants when they were given tiered goals and received fixed or incentive pay. An ordered treatment design was used with 104 undergraduate students randomly assigned to one of the following conditions: (a) fixed pay without tiered goals; (b) fixed pay with tiered goals; (c) piece-rate pay without tiered goals; and (d) piece-rate pay with tiered goals. Participants performed a computerized simulated medical data-entry task and the primary dependent variable was the average number of correctly completed medical records per session. Participants attended one 45-minute covariate session and five 45-minute experimental sessions. A rank-based ANCOVA monotone method was used to evaluate the hypothesis that performance would be (1) highest for piece-rate pay with tiered goals, (2) intermediate for both fixed pay with tiered goals and piece-rate pay without tiered goals, and (3) lowest for fixed pay without tiered goals. The results of the main monotonic analysis were consistent with this hypothesis. A secondary analysis demonstrated that performance did not differ significantly between the two conditions expected to produce intermediate level performance. The results of the main analysis indicate that the combination of goals and incentives is likely to maximize performance in organizations, and the results of the secondary analysis are important due to the relative ease of implementing tiered goals as opposed to piece-rate pay.
Book Synopsis Minimum Wages and the Incentives for Skill Formation by : Jonas Agell
Download or read book Minimum Wages and the Incentives for Skill Formation written by Jonas Agell and published by . This book was released on 1995 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Gregory Encina Billikopf Publisher :University of California Agricultu Agricultural Issues Cente ISBN 13 : Total Pages :266 pages Book Rating :4.E/5 ( download)
Book Synopsis Labor Management in Agriculture by : Gregory Encina Billikopf
Download or read book Labor Management in Agriculture written by Gregory Encina Billikopf and published by University of California Agricultu Agricultural Issues Cente. This book was released on 2003 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Personnel Economics by : Edward P. Lazear
Download or read book Personnel Economics written by Edward P. Lazear and published by MIT Press. This book was released on 1995 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides an introduction to personnel economics, showing how economists can make specific predictions and prescriptions for personnel issues that arise in business on a daily basis. The author focuses on compensation and its relation to worker motivation, selection and teamwork.
Author :Dennis D. Fehrenbacher Publisher :Springer Science & Business Media ISBN 13 :3642335993 Total Pages :265 pages Book Rating :4.6/5 (423 download)
Book Synopsis Design of Incentive Systems by : Dennis D. Fehrenbacher
Download or read book Design of Incentive Systems written by Dennis D. Fehrenbacher and published by Springer Science & Business Media. This book was released on 2013-05-28 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary incentives, as a driving force for human behavior, are the main theme of this book. The primary goals underlying the application of monetary incentive systems in companies are motivating employees to strive for superior productivity in line with the interests of employers, and hiring adequately skilled employees. The first goal refers to incentive effects, the latter to sorting effects. This book introduces important theories and concepts concerning behavior under influence of monetary incentives; it reviews existing economic frameworks and identifies specific contingency variables. Based on an integrative framework of elements influencing incentive and sorting effects, a laboratory experiment is presented including detailed methodological discussion on experimentation and data analysis as well as an extensive presentation of findings and discussion of implications.
Book Synopsis The Effects of Monetary Incentives on Worker Learning and Performance in an Assembly Task by : Charles D. Bailey
Download or read book The Effects of Monetary Incentives on Worker Learning and Performance in an Assembly Task written by Charles D. Bailey and published by . This book was released on 2014 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accountants are concerned about the impact of incentive contracts on performance. Monetary incentives improve overall performance, but their effects on the components of performance are not well known. Performance on a repetitive task includes initial performance, subsequent improvement rate, and performance after learning ceases. Monetary incentives can affect any of these factors. This study examines the impact of piece-rate and goal-contingent incentives, versus fixed-pay, on initial performance and subsequent improvement rate in an assembly task. Previous literature has not simultaneously examined these components, which are homologous with the components of the industrial learning curve model. We find that both overall and initial performance, but not improvement rate, are higher in the incentive-pay groups. Two factors may explain the lack of differential improvement rates: subjects? effort allocation, since improving initial performance may be easier than improving subsequent performance; and the nature of these typical incentive-pay plans, which do not reward improvement directly.
