Organizations should know their people: a behavioral economics approach

Article


Espín, A., Reyes-Pereira, F. and Ciria, L. 2017. Organizations should know their people: a behavioral economics approach. Journal of Behavioral Economics for Policy. 1 (S), pp. 41-48.
TypeArticle
TitleOrganizations should know their people: a behavioral economics approach
AuthorsEspín, A., Reyes-Pereira, F. and Ciria, L.
Abstract

Public and private organizations are increasingly applying behavioral economics methods to a variety of issues such as mechanism design and incentive architecture. However, there has been little focus on how experimental tools used in behavioral economics can help companies learn more about their (current or prospective) workforce and, more specifically, about their employees’ tastes and inclinations. This has important implications for broader organizational performance since some designs/incentives are likely to affect only individuals with a particular disposition (e.g. risk averse or fairness oriented) but not others, or can even have opposite effects on individuals with different sets of preferences. In this commentary, we point out a number of promising avenues for the application of a behavioral economics lens to understand and manage people within organizations. A comprehensive case study is also provided.

LanguageEnglish
PublisherSociety for the Advancement of Behavioral Economics
JournalJournal of Behavioral Economics for Policy
Publication dates
Online31 Oct 2017
Publication process dates
Deposited06 Nov 2017
Accepted12 Sep 2017
Output statusPublished
Publisher's version
Additional information

Special Issue

Web address (URL)http://sabeconomics.org/journal/RePEc/beh/JBEPv1/articles/JBEP-1-S-8.pdf
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https://repository.mdx.ac.uk/item/87468

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