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  3. Journal of Economic Perspectives
  4. Spring 1991
  5. Labor Economics and the Psychology of Organizations

Labor Economics and the Psychology of Organizations

  • Edward P. Lazear
Journal of Economic Perspectives
vol. 5, no. 2, Spring 1991
(pp. 89-110)
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Abstract

This essay is a discussion of how economists are attempting to understand institutions within the organizations of the labor market. The institutions and issues discussed include mandatory retirement; discontinuous jumps in wages; pay compression; rights of tenure; up-or-out hierarchies; timing of raises, promotions and evaluations; the existence of partnerships; the use of bonuses vs. penalties; and pay as a motivator.

Citation

Lazear, Edward P. 1991. "Labor Economics and the Psychology of Organizations." Journal of Economic Perspectives, 5 (2): 89-110. DOI: 10.1257/jep.5.2.89

JEL Classification

  • J00 Labor and Demographic Economics: General
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