TY - JOUR AU - Krause, Martin PY - 2014/12/01 Y2 - 2024/03/29 TI - Austrian Labor Theory and Preferences Over Compensation JF - MISES: Interdisciplinary Journal of Philosophy, Law and Economics JA - MisesJournal VL - 2 IS - 2 SE - Economics, Methodology and Praxiology DO - 10.30800/mises.2014.v2.649 UR - https://www.revistamises.org.br/misesjournal/article/view/649 SP - 425-437 AB - <p>Personnel Economics has allowed us to better understand compensation schemes in face of the problems coming out of the principal-agent relationship, with individuals pursuing their own private interests making necessary a mechanism to promote the alignment of interests within the organization. The theory had to<br>simplify its assumptions. Austrian Economics Theory, emphasizing subjective value and entrepreneurial creativity gives a convenient background to consider individuals’ preferences over incentives.</p> ER -