WorldCat Identities

Lazear, Edward P.

Works: 182 works in 654 publications in 3 languages and 10,296 library holdings
Genres: Conference proceedings 
Roles: Author, Editor, Thesis advisor
Classifications: HB171.5, 658.3
Publication Timeline
Most widely held works by Edward P Lazear
Personnel economics by Edward P Lazear( Book )

45 editions published between 1995 and 2007 in English and held by 814 WorldCat member libraries worldwide

Personnel economics drills deeply into the firm to study human resource management practices like compensation, hiring practices, training, and teamwork. Many questions are asked. Why should pay vary across workers within firms--and how "compressed" should pay be within firms? Should firms pay workers for their performance on the job or for their skills or hours of work? How are pay and promotions structured across jobs to induce optimal effort from employees? Why do firms use teams and how are teams used most effectively? How should all these human resource management practices, from incentive pay to teamwork, be combined within firms? Personnel economics offers new tools and new answers to these questions. In this paper, we display the tools and principles of personnel economics through a series of models aimed at addressing the questions posed above. We focus on the building blocks that form the foundation of personnel economics: the assumptions that both the worker and the firm are rational maximizing agents; that labor markets and product markets must reach some price-quantity equilibrium; that markets are efficient or that market failures have introduced inefficiencies; and that the use of econometrics and experimental techniques has advanced our ability to identify underlying causal relationships
Searching for alternatives : drug-control policy in the United States( Book )

5 editions published between 1991 and 1992 in English and held by 570 WorldCat member libraries worldwide

Allocation of income within the household by Edward P Lazear( Book )

5 editions published in 1988 in English and held by 475 WorldCat member libraries worldwide

Education in the twenty-first century( Book )

7 editions published in 2002 in English and held by 345 WorldCat member libraries worldwide

In this book, a range of Hoover Institution scholars offer evidence, insights, and ideas on the key policy questions affecting education. The contributors detail the importance of education to both the individual and society as a whole, shedding light on what education does, on various ways to structure education, on lessons that can be learned from the past, and on how much can be accomplished in the future
Economic transition in Eastern Europe and Russia : realities of reform( Book )

6 editions published between 1995 and 1997 in English and held by 342 WorldCat member libraries worldwide

The most obvious and controversial difference between reform strategies is in the pace of transition. Previous theories of development have focused on the slow growth of Third World countries into modern economies. Some experts have ascribed current failures in Eastern Europe to the instantaneous liberalization of economies and the forceful application of tight monetary policies. They argue for a more gradual introduction of free markets, with the retention of some state control, in order to avoid declining outputs. But this theory is contradicted by the fact that the most successful Eastern European countries, Poland and the Czech Republic, are those that initiated the most dramatic and rapid reforms. The authors of Economic Transition show how educated, relatively modern societies can make major changes in political and economic institutions almost overnight. The goods that countries produced under communism are different from those that can be efficiently produced in a free market. Some industries will collapse while others will flourish, and during this adjustment period, there are inevitable declines in output and painful layoffs. Evidence shows that a significant increase in unemployment is an unavoidable consequence of economic reform whether the government is moving rapidly or gradually. This temporary problem can be partially cushioned by a social safety net
Issues in contemporary retirement( Book )

8 editions published in 1988 in English and held by 330 WorldCat member libraries worldwide

Personnel economics for managers by Edward P Lazear( Book )

11 editions published between 1998 and 2007 in English and Chinese and held by 314 WorldCat member libraries worldwide

The structure of wages : an international comparison( Book )

14 editions published between 2008 and 2009 in English and held by 267 WorldCat member libraries worldwide

"The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages: An international Comparison analyzes labor trends and their institutional background in the United States and eight European countries." "A distinguished team of contributors reveals how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization."--BOOK JACKET
Personnel economics in practice by Edward P Lazear( Book )

20 editions published between 2008 and 2015 in English and Spanish and held by 190 WorldCat member libraries worldwide

"Economics is a methodology that has been applied to many areas of human behavior, and has had enormous influence on the study of organizations and human resources. Developed by much of the founding research from Edward Lazear, this economic approach in these areas adds rigor, structure, and clarifies many important issues.The goal of this text is to give the reader a rigorous framework for understanding organizational design and the management of employees. Not only will students learn and apply ideas from microeconomics, but they will also learn principles that will be valuable in their future careers"
Microeconomic theory by C. E Ferguson( Book )

9 editions published between 1989 and 1994 in English and Spanish and held by 149 WorldCat member libraries worldwide

Inside the firm : contributions to personnel economics by Edward P Lazear( Book )

8 editions published in 2011 in English and held by 141 WorldCat member libraries worldwide

How should firms select their employees? How should they design their compensation schemes such that employees are motivated to work hard? How do the performance and compensation of teammates influence workers' motivation and productivity? Personnel economics examines human resource practices and answers questions that are of paramount importance for business leaders around the globe. In this volume, Edward P. Lazear, a founding father of personnel economics and winner of the IZA Prize in Labor Economics 2004, takes stock of the economic analysis of personnel management, and the advancements and achievements that have been made in this field over the past 30 years. The book contains an impressive selection of Lazear's most important papers. It provides a unifying approach to human resource practices and a useful reference on personnel strategies such as hiring, motivating, and training an effective work force
Culture wars in America by Edward P Lazear( Book )

5 editions published in 1996 in English and held by 119 WorldCat member libraries worldwide

Personnel economics : past lessons and future directions by Edward P Lazear( Book )

11 editions published in 1999 in English and held by 70 WorldCat member libraries worldwide

In 1987, the Journal of Labor Economics published an issue on the economics of personnel. Since then, personnel economics, defined as the application of labor economics principles to business issues, has become a major part of labor economics, now accounting for a substantial proportion of papers in this and other journals. Much of the work in personnel economics has been theoretical, in large part because the data needed to test these theories has not been available. In recent years, a number of firm-based data sets have surfaced that allow personnel economics to be tested. Using two such data sets, the implications of theories that relate to life-cycle incentives compression, and peer pressure are given support. The conclusion is that personnel economics is real. It is far more than a set of clever theories. It has relevance to the real world. Additionally, firm-based data make asking and answering new kinds of questions feasible. The value of research in this area is high because so little is known as compared with other fields in labor economics. Questions about the importance of a worker's relative position in a firm, about intrafirm mobility, about the effect of the firm's business environment on worker welfare, about the significance of first impressions can be answered using the new data. Finally, it is argued that the importance of personnel economics in undergraduate as well as business school curricula will continue to grow
Globalization and the market for teammates by Edward P Lazear( Book )

11 editions published in 1998 in English and held by 67 WorldCat member libraries worldwide

The globalization of firms is explored at theoretical and empirical levels. The idea is that a global firm is a multi-cultural team. The existence of a global firm is somewhat puzzling. Combining workers who have different cultures, legal systems, and languages imposes costs on the firm that would not be present were all workers to conform to one standard. In order to offset the costs of cross-cultural dealing, there must be complementarities between the workers that are sufficiently important to overcome the costs. Disjoint and relevant skills create an environment where the gains from complementarities can be significant. It is also necessary that teammates be able to communicate with one another. The search for the best practice' is analyzed and empirical support from an examination of trading patterns is provided
Educational production by Edward P Lazear( Book )

15 editions published between 1999 and 2000 in English and held by 66 WorldCat member libraries worldwide

The literature on class size yields a number of findings. First, class size effects are difficult to find except when using data where class size variations are truly exogenous. Second, Catholic schools have large classes and better performance. Third, to the extent that class size matters, it is more important for disadvantaged children. Special education classes are smaller than advanced placement classes. Fourth, when many children have joined a class recently, the joiners and their classmates do worse. The theory presented below reconciles all of these facts by recognizing that classroom teaching is a public good where congestion effects are potentially important. Because the optimal class size is larger for behaved-students, the observed relation of educational output to class size is small or even positive. However, increasing class size to ranges away from equilibrium levels will adversely affect educational output. The theory argues for a particular non-linear relation of educational output to class size and is consistent with observed variations in class size by grade level, student and teacher characteristics. Class sizes are more significant in small classes than large ones. There is a special function that maps the substitution of discipline for class size, which may explain why Catholic schools, with large classes, out-perform public schools. The same technology also implies that class size effects are larger for problem children than for well-behaved children. Private schools, which charge a positive price and compete with free public schools, attract better students. This selection may help explain why Catholic schools out-perform public schools even though expulsion rates are lower in Catholic schools than in public ones. Teachers may prefer smaller class size than students or parents either because wages do not reflect working conditions fully or because teachers as a group can raise the demand for their services by lowering class size. The theory provides a measurable and ope
Diversity and immigration by Edward P Lazear( Book )

9 editions published in 1998 in English and held by 63 WorldCat member libraries worldwide

One of the economic benefits of immigration is that the diversity of the population is enhanced. Diversity, it is argued, enriches the environment in which individuals live and trade and may contribute to greater creativity. What does diversity mean? Do current immigration policies enhance diversity? To the extent that there are gains from diversity, they come through the interaction of individuals from one culture or background with individuals from another. A good partner in the interaction has different skills, has skills that are relevant to one's own activity, and is a person with whom one can communicate. The argument in favor of diversity is evaluated both theoretically and empirically using the 1990 Census. Diversity cannot be the justification of U.S. immigration policy. Indeed, current immigration policy fails to promote diversity. Further, the results suggest that our immigration policy has resulted in differences in the characteristics of immigrants that reflect the effects of selection as much as they do the underlying characteristics of the populations from which the immigrants are drawn. Balanced immigration, perhaps implemented through the sale of immigration slots, would do more to enrich the diversity of the US population
Relational investing : the worker's perspective by Edward P Lazear( Book )

12 editions published in 1996 in English and held by 62 WorldCat member libraries worldwide

Workers who hold a firm's stock make decisions other than those that pure capital owners would make, but there exist institutions and compensation packages that will generally lead workers to favor efficient firm decisions. Workers care about their firm-specific rents and may seek shares in their firm to use them to protect those rents. Their views toward firm decisions will differ depending on their firm-specific human capital and tenure in the firm. The workers most favorable to efficient firm decisions are the very young and very old, who have the least amount to lose in employment rent and those with larger shares of ownership. An appropriate severance pay policy will induce workers to choose efficient outcomes even if it calls for their own layoffs. Single company based defined contribution pension funds, which hold shares in their own firm, are likely to tilt worker- owners to favor efficient decisions when layoffs and other changes are modest, but not when the changes are huge. Pension funds are more likely to buy up shares and successfully change behavior in small firms, in firms that are highly levered, and when the investment community has diverse views on the benefit from changing a firm's current irresponsible policies
An economic analysis of works councils by Richard B Freeman( Book )

12 editions published in 1994 in English and held by 59 WorldCat member libraries worldwide

Works councils, found in most Western European economies, are elected bodies of employees with rights to information, consultation, and in some cases co-determination of employment conditions at local workplaces, mandated by law. Many European employers and unions believe that councils improve communication between workers and management, raising social output, while reducing the speed with which decisions are made. This paper analyzes the operation of councils as a means of improving social output by creating more cooperative labor relations. It argues that councils are mandated because the incentive for companies to institute them and delegate them power falls short of the social incentive; that workers provide more accurate information to employers about preferences when councils have some say over how that information is used; and that the communication from employers to workers produces socially desirable worker concessions in bad times that would not occur absent this institution. It compares a jury style random selection of works councilors with selection via elections
Incentives in basic research by Edward P Lazear( Book )

11 editions published in 1996 in English and held by 59 WorldCat member libraries worldwide

Abstract: Individuals involved in basic research, like other workers, respond to incentives. Funding agencies provide implicit incentives when they specify the rules by which awards are made. The following analysis is an exercise in understanding incentives at an applied level. Specific rules are examined and analyzed to determine their incentive effects. For example, what is the effect of rewarding past effort? What happens when a few large awards are replaced by many small awards? How does the timing of an award affect effort? How does an agency choose which topics to fund? After having mapped out the responses of researchers to rules, socially optimal rules are derived. Research incentive issues have private business analogues, and the extension to the operation of the firm is discussed briefly
Performance pay and productivity by Edward P Lazear( Book )

12 editions published in 1996 in English and held by 58 WorldCat member libraries worldwide

What happens when a firm switches from paying hourly wages to paying piece rates? The theory developed below predicts that average productivity rises, that the firm will attract a more able work force and that the variance in output across individuals at the firm will rise as well. The theory is tested with data from a large autoglass company that changed compensation structures between 1994 and 1995. All theoretical predictions are borne out. In the firm examined, the productivity effects are extremely large, amounting to anywhere from about 20% to 36% of output, depending on what is held constant. About half of the worker-specific increase in productivity is passed on to workers in the form of higher wages
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Alternative Names
Edward Lazear amerikansk ekonom

Edward Lazear amerikansk økonom

Edward Lazear amerykański ekonomista

Edward Lazear US-amerikanischer Wirtschaftswissenschaftler

Lazear, Edward Paul 1948-

Лейзир, Эдвард

ラジアー, エドワード・P

English (231)

Spanish (6)

Chinese (2)

Education in the twenty-first centuryPersonnel economics for managersThe structure of wages : an international comparisonPersonnel economics in practiceMicroeconomic theoryInside the firm : contributions to personnel economics