Essays On The Economics Of Organizations Productivity And Labor
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Essays On The Economics Of Organizations Productivity And Labor
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Author : Bradford Lee Cowgill
language : en
Publisher:
Release Date : 2015
Essays On The Economics Of Organizations Productivity And Labor written by Bradford Lee Cowgill and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This dissertation is about how firms use incentives and information in internal personnel and management practices, in particular relating to hiring and innovation. In the first chapter, I study competition between workers inside of firms. Why do firms use incentives that encourage anti-social behavior among employees? Rank-based promotion schemes are among the most widespread forms competition and incentives, despite encouraging influence-peddling, sabotage and anti-social behavior. I study a natural experiment using rich administrative data from a large, white collar firm. At the firm, competitors for promotions depend partly on dates-of-hire. I utilize the date-of-hire assignment as a source of exogenous variation in the intensity of intra-worker competition. I use the firm's multidimensional timestamped productivity logs as ``time diaries'' to study the amount, character and allocation of output across tasks. I find that competition has significant incentives for effort and efficiency -- as well as lobbying- and sabotage- like behaviors -- without affecting the quality and innovativeness of output. I also find that employees facing high competition are more likely to quit and join other companies, particularly higher-performing employees. Lastly, I show that competition induces workers to differentiate and specialize by concentrating effort into a smaller set of tasks. These results show that while workers respond to incentives from competition, they also seek to avoid it through sorting and differentiation strategies. The productivity gains from differentiation and specialization may partly explain the common use of these incentives by firms. In the second chapter, I study how firms use social networks in hiring. Using personnel data from nine large firms in three industries (call-centers, trucking, and high-tech), we empirically assess the benefit to firms of hiring through employee referrals. Compared to non-referred applicants, referred applicants are more likely to be hired and more likely to accept offers, even though referrals and non-referrals have similar skill characteristics. Referred workers tend to have similar productivity compared to non-referred workers on most measures, but referred workers have lower accident rates in trucking and produce more patents in high-tech. Referred workers are substantially less likely to quit and earn slightly higher wages than non-referred workers. In call-centers and trucking, the two industries for which we can calculate worker-level profits, referred workers yield substantially higher profits per worker than non-referred workers. These profit differences are driven by lower turnover and lower recruiting costs for referrals. In the third and final chapter, I study the use of betting markets inside of firms. Despite the popularity of prediction markets among economists, businesses and policymakers have been slow to adopt them in decision making. Most studies of prediction markets outside the lab are from public markets with large trading populations. Corporate prediction markets face additional issues, such as thinness, weak incentives, limited entry and the potential for traders with biases or ulterior motives - raising questions about how well these markets will perform. We examine data from prediction markets run by Google, Ford Motor Company and an anonymous basic materials conglomerate (Firm X). Despite theoretically adverse conditions, we find these markets are relatively efficient, and improve upon the forecasts of experts at all three firms by as much as a 25\% reduction in mean squared error. The most notable inefficiency is an optimism bias in the markets at Google. The inefficiencies that do exist generally become smaller over time. More experienced traders and those with higher past performance trade against the identified inefficiencies, suggesting that the markets' efficiency improves because traders gain experience and less skilled traders exit the market.
Three Essays On Productivity Rle Business Cycles
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Author : Mark J. Lasky
language : en
Publisher: Routledge
Release Date : 2015-03-27
Three Essays On Productivity Rle Business Cycles written by Mark J. Lasky and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-27 with Business & Economics categories.
The behaviour of US productivity since this book was originally publishedin 1994, has added new relevance to the relationship between profits and productivity. In the long run, productivity growth determines the economic standard of living. This book is divided into three parts: the basis of the first is the empirical finding that, controlling for normal business cycle effects, productivity grows faster when profits have been low than otherwise. The second part discusses how to measure marginal cost using time series data and the third tests a basic assumption that productivity growth is exogenous to labour and capital.
Essays In Organizational Economics
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Author : Michael Leslie Powell
language : en
Publisher:
Release Date : 2011
Essays In Organizational Economics written by Michael Leslie Powell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
The first chapter examines the interaction of heterogeneous firms in a competitive market in which firms motivate their workers using relational incentive contracts. In the steady-state rational-expectations equilibrium, aggregate TFP is fully characterized by a weighted average of firm-specific sustainable effort levels. Relational contracts amplify exogenous productivity heterogeneity and lead to dispersion in the net marginal revenue product of labor. Improvements in formal contracting disproportionately benefits low-productivity firms, leading to a greater dispersion of the net marginal revenue product of labor in weaker contracting environments. Thus, cross-country differences in contracting institutions can partially explain the observed pattern that misallocation is more pronounced in developing countries. The second chapter explores organizational responses to influence activities-costly activities aimed at persuading a decision maker. Rigid organizational practices that might otherwise seem inefficient can optimally arise. If more complex decisions are more susceptible to influence activities, optimal selection may partially account for the observed correlation between the quality of management practices and firm performance reported in Bloom and Van Reenen (2007). Further, the boundaries of the firm can be shaped by the potential for influence activities, providing a theory of the firm based on ex-post inefficiencies. Finally, boundaries and bureaucratic institutions interact: more concentrated decision-making and bureaucratic institutions are complements. The third chapter (co-authored with Robert Gibbons and Richard Holden) analyzes a rational-expectations model of price formation in an intermediate-good market under uncertainty. There is a continuum of firms, each consisting of a party who can reduce production cost and a party who can discover information about demand. Both parties can make specific investments at private cost, and there is a machine that either party can control. As in incomplete-contracting models, different control structures create different incentives for the parties' investments. As in rational-expectations models, some parties may invest in acquiring information, which is then incorporated into the market-clearing price of the intermediate good by these parties' production decisions. The informativeness of the price mechanism affects the returns to specific investments and hence the optimal control structure for individual firms; meanwhile, the control structure choices by individual firms affect the informativeness of the price mechanism. In equilibrium the informativeness of the price mechanism can induce ex ante homogeneous firms to choose heterogeneous control structures.
Productivity Change Public Goods And Transaction Costs
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Author : Yoram Barzel
language : en
Publisher: Edward Elgar Publishing
Release Date : 1995
Productivity Change Public Goods And Transaction Costs written by Yoram Barzel and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
This selection of Barzel's papers focuses upon issues in microeconomics. They cover production functions and productivity, optimal timing, labour, public choice, industrial organization, demand analysis, and property rights and transaction costs. Key contributions featured in this collection include Some Observations on the Index Number Problem, An Alternative Approach to the Analysis of Taxation, An Economic Analysis of Slavery and Measurement Cost and the Organization of Markets.
Intangible Capital And Growth
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Author : Felix Roth
language : en
Publisher: Springer Nature
Release Date : 2022
Intangible Capital And Growth written by Felix Roth and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Economic development categories.
For several decades now, advanced economies across the globe have been undergoing a process of rapid transformation towards becoming knowledge economies. It is now widely recognized that intangible capital has been a crucial element in the growth performance of these economies and their firms. In the author's view, "intangible capital" serves as the most appropriate umbrella term for capturing several dimensions of capital that are not tangible in nature but are nevertheless fundamentally important for growth. The term encompasses investments in education (human capital) and in informal (social capital) and formal (rule of law) institutions by the public sector and households, as well as investments by businesses aimed at enhancing their knowledge base, such as software, innovative property, and economic competencies. Intangible Capital and Growth is the first of two open access volumes presenting a selection of the author's essays on Labor Productivity, Monetary Economics, and the Political Economy, which represent the first part of his habilitation in economics. This first volume brings together eight of the author's essays, selected to provide an overview of the evolution of his research on intangible capital and growth [Resumen de la editorial]
Productivity Analysis At The Organizational Level
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Author : Nabil R. Adam
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Productivity Analysis At The Organizational Level written by Nabil R. Adam and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
1 Nabil R. Adam and Ali Dogramaci Measuring, analyzing, and improving productivity in a given organization is a complex process that involves the contributions of economists, industrial engineers, operations researchers, management scientists, and lawyers. The objective of this book is to provide the reader with a sample of original papers that relate to these productivity topics at the organizational level. In the book, the word organization refers to business firms and municipal organizations. The hook is divided into three parts: perspectives on productivity mea surement, a range of studies at the micro level, and some productivity issues in public organizations. Part I, which consists of three chapters, deals with productivity measurement. The first two chapters of this part cover a broad framework of measurement concepts and techniques; the last chapter, on the other hand, provides the reader with an example of productivity measurement for a specific industry (in this case, food retail ing). Thus, a spectrum of productivity measurement issues is covered in this part of the book.
Essays In Labor And Organization Economics
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Author : Bryan Michael Ricchetti
language : en
Publisher:
Release Date : 2007
Essays In Labor And Organization Economics written by Bryan Michael Ricchetti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Labor Markets In Action
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Author : Richard Barry Freeman
language : en
Publisher:
Release Date : 1989
Labor Markets In Action written by Richard Barry Freeman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.
Economic Information Decision And Prediction
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Author : M. Marschak
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Economic Information Decision And Prediction written by M. Marschak and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.
The papers of Jacob Marschak which follow in these volumes are an extraordinary combination of original and fruitful departures in economic and social thought, superb clarity of exposition, and sensitivity to the values of earlier work and even competing traditions. They make us marvel alike at their variety, their quantity, and their quality. But they do not, even so, fully reflect Marschak's contributions to the development of social science. He has had an unusual influence as one who exercises leadership. In a formal, organizational sense, this role has been manifest in his capacity as Director of the Cowles Commission for Research in Economics, then at the University of Chicago, in that organization's most productive and influential period, and later in his central role in the Western Management Science Institute, at the University of California at Los Angeles. I can speak from first-hand knowledge about the first. His special capacities are, first, the recognition of promising new concepts and of promising young scholars, and, second, getting his colleagues to join him in developing the ideas and involving them fully in the necessary tasks. There was an unusual combination of strength and humility in his methods; a display of force in pushing the work along but a willingness, almost an insistence, on treating even the most junior associate as a fully equal colleague in intellectual develop ment, whose criticism of himself was to be encouraged. His leadership has been exercised in the absence of formal positions.
The Labor Managed Economy
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Author : Jaroslav Vanek
language : en
Publisher:
Release Date : 1977
The Labor Managed Economy written by Jaroslav Vanek and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Business & Economics categories.
Monograph comprising an evaluation of workers self management experiences in Peru and Yugoslavia - discusses the solutions to macroeconomics problems such as unequal income distribution, decision making on capital investment, and labour productivity within self-managed firms, etc., and considers micro and macro economic theory relating to efficiency and competition. Graphs and references.