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The theory of compensating wage differentials, by Adam Smith, provides a theoretical framework of the ideology behind pay differences. The theory explains that jobs with undesirable characteristics will compensate with higher wages compared to the popular, more desirable jobs, who provide lower wages to its workers. [13]
McGregor's Theory X and Theory Y and Maslow's hierarchy of needs are both rooted in motivation theory. [3] Maslow's hierarchy of needs consists of physiological needs (lowest level), safety needs, love needs, esteem needs, and self-actualization (highest level). [3]
Tournament theory is the theory in personnel economics used to describe certain situations where wage differences are based not on marginal productivity but instead upon relative differences between the individuals. [1]
Rational choice modeling refers to the use of decision theory (the theory of rational choice) as a set of guidelines to help understand economic and social behavior. [1] [2] The theory tries to approximate, predict, or mathematically model human behavior by analyzing the behavior of a rational actor facing the same costs and benefits.
Dangerous tasks are common in the construction workplace. Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.
Synonym list in cuneiform on a clay tablet, Neo-Assyrian period [1]. A synonym is a word, morpheme, or phrase that means precisely or nearly the same as another word, morpheme, or phrase in a given language. [2]
Organizational theory refers to a series of interrelated concepts that involve the sociological study of the structures and operations of formal social organizations. ...
Liebig's law has been extended to biological populations (and is commonly used in ecosystem modelling).For example, the growth of an organism such as a plant may be dependent on a number of different factors, such as sunlight or mineral nutrients (e.g., nitrate or phosphate).