Author : Philip C. Grant
Publisher : University Press of America
ISBN 13 : 9780761827818
Total Pages : 288 pages
Book Rating : 4.8/5 (278 download)
Book Synopsis The Law of Escalating Marginal Sacrifice by : Philip C. Grant
Download or read book The Law of Escalating Marginal Sacrifice written by Philip C. Grant and published by University Press of America. This book was released on 2004 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a new law of human behavior founded by the author some twenty-five years ago but not proclaimed as a law until now. It has taken the past twenty-five years to accumulate evidence sufficient to "move" what was originally a tentative postulation to the status of an indisputable law- a relationship that applies across all people in all situations. This Law of Escalating Marginal Sacrifice (LEMS) states that when a person exerts more and more effort pursuing a job, task, or goal, the negative outcomes, or costs experienced by the person, as a result of the higher effort exerted, rise at an increasing rate---the rate of increase accelerating rapidly as one's effort capacity is approached. Such a relationship, between the effort exerted and the perceived costs associated with that effort, has profound implications for managing people in the workforce. Further, this relationship provides a vital framework for integrating the theory of the firm with the theory of individual behavior--a synthesis too long neglected.