It is well known that as a result of spiralling crime rates, public expenditures for police protection have been rising at a rapid rate. It is less well known, however, that private expenditures for guards, protective services and equipment have kept pace with the increasing public expenditures....

To align employees’ interests with the firm’s goals, employers often use performance-based pay, but designing such a compensation plan is challenging because performance is typically multifaceted. For example, a sales employee should be incentivized to sell the company’s product, but a...

This paper studies the relationships between on-the-job training, wages and job performance by using the personnel records of a large manufacturing firm. Utilizing a company database avoids the biases that generally result when individuals are unable to accurately recall the amount of training...

This paper utilizes data on the personnel policies and economic characteristics of businesses in the manufacturing sector to study the relationship between employee training and labor productivity. The major finding is that businesses that were operating below their expected labor productivity...

Although economic models of training decisions are framed in terms of a company's calculation of the costs and benefits of such training, empirical work has never been able to test this model directly on company behavior. This paper utilizes a unique database to analyze the determinants of the...