Compensation and Incentives in the Workplace | Zendy

Edward P. Lazear | Zendy

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Compensation and Incentives in the Workplace

Author(s) -

Edward P. Lazear

Publication year - 2018

Publication title -

the journal of economic perspectives

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 9.614

H-Index - 196

eISSN - 1944-7965

pISSN - 0895-3309

DOI - 10.1257/jep.32.3.195

Subject(s) - incentive , compensation (psychology) , work (physics) , productivity , theme (computing) , affect (linguistics) , sample (material) , economics , labour economics , public economics , microeconomics , computer science , sociology , psychology , social psychology , macroeconomics , engineering , mechanical engineering , chemistry , communication , chromatography , operating system

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.

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