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Measuring and Managing Performance in Organizations by Robert D. Austin, Timothy Lister, Tom DeMarco

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Chapter Four. How Economists Approach the Measurement Problem

The link between management practice and research in economics is tenuous at best. One reason is that economists commonly use complex mathematics that are inaccessible to most nonspecialists. Another reason is that the assumptions underlying many economic models are so simplified that it is difficult to take them seriously as descriptions of real organizational situations. Despite these objections, however, there are ideas of interest imbedded within the mathematically rigorous yet drastically oversimplified models of economics. It is worth considering these ideas, without the technical detail, as a starting point for the analysis of motivational measurement.

Economists began to consider ...

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