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A Modification of Raju, Burke and Normand's (1990) New Model for Utility Analysis
Author(s) -
Law Kenneth S.,
Myors Brett
Publication year - 1999
Publication title -
asia pacific journal of human resources
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.825
H-Index - 33
eISSN - 1744-7941
pISSN - 1038-4111
DOI - 10.1177/103841119903700104
Subject(s) - liberian dollar , selection (genetic algorithm) , value (mathematics) , computer science , model selection , econometrics , operations research , economics , artificial intelligence , machine learning , mathematics , finance
Raju, Burke, and Normand (1990) proposed a new procedure for estimating the dollar value contribution of personnel selection programs. This paper suggests some modifications to their procedure following applications in two Australian samples and contributes to the ongoing development and refinement of these models. The results show that, depending on the definition of a particular parameter in the procedure, the new approach might give higher or lower estimates of the dollar value contribution of personnel selection programs than the more widely used Schmidt, Hunter, Mckenzie and Muldrow (1979) procedure. Difficulties in applying the new procedure and possible limitations of this study are also discussed. These results also contribute to the growing international database of utility estimates which is comprised mainly of North American data at present.