The basic model begins with the supposition that the connection between time and effort exerted by the worker and the fruits of his labor services is not entirely under his control. The employee can influence the amount of work accomplished, by exerting himself, but he can't control output entirely. Supposing he is on the job for a set length of time, we let e denote the effort he chooses to exert over that period of time, and we suppose that the amount of work done x has a probability distribution that is affected by; think for now of the case where e is one-dimensional, and larger values of x are more likely the larger is. leia todo o artigo
a multi-disciplined approach to achieving organisational objectives by making the best use of knowledge
Tuesday, February 11, 2014
Pay For Performance In Human Resources - A study by Artur Victoria
Agency theory, the principal - agent model, and the economic theory of incentives are three names for the same thing: a collection of models created by economists to answer this question. We discuss the basic model in this subsection and elaborations following that.
