The Effect of Gift Exchange Theory on Wage Determination
The disciplines of psychology and economics have interacted over time due to their human-oriented approach and have started forming the discipline of behavioral economics since the 1950s. Labor economics examines the decisions of workers and employers regarding repeated human interactions and has al...
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| Format: | Article |
| Language: | English |
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Istanbul University Press
2022-12-01
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| Series: | İstanbul İktisat Dergisi |
| Subjects: | |
| Online Access: | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/E5E8382BA2CA47ADB332A0133E9ED638 |
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| _version_ | 1850279679183814656 |
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| author | Muhammed Enes Şaşmaz Erdem Cam |
| author_facet | Muhammed Enes Şaşmaz Erdem Cam |
| author_sort | Muhammed Enes Şaşmaz |
| collection | DOAJ |
| description | The disciplines of psychology and economics have interacted over time due to their human-oriented approach and have started forming the discipline of behavioral economics since the 1950s. Labor economics examines the decisions of workers and employers regarding repeated human interactions and has also been affected by the development of behavioral economics. This discipline was recently defined as behavioral labor economics and has increased its awareness in recent years as a field where more multidisciplinary, innovative, and experimental methods are preferred, unlike traditional labor economics with its neoclassical and conservative characteristics. Behavioral labor economics discusses labor market aspects such as labor supply, effort, wages, and other behavioral factors in the workplace. Gift exchange theory provides insight into the many variables related to behavioral labor economics. According to the theory, receiving a wage level higher than the equilibrium market wage indicates a gift for employees, with employees being expected to work harder in exchange for this gift. This experimental study has been prepared based on gift exchange practices in which employees receive a wage above the one they accepted in way where it is considered a gift. As a result of the experiment, the gift exchange determined to be effective in the experimental group, and this level of effectiveness continued to increase over time. |
| format | Article |
| id | doaj-art-ce0264f8aa6b480d9ba971a65f7cdaaf |
| institution | OA Journals |
| issn | 2602-3954 |
| language | English |
| publishDate | 2022-12-01 |
| publisher | Istanbul University Press |
| record_format | Article |
| series | İstanbul İktisat Dergisi |
| spelling | doaj-art-ce0264f8aa6b480d9ba971a65f7cdaaf2025-08-20T01:49:01ZengIstanbul University Pressİstanbul İktisat Dergisi2602-39542022-12-0172293997410.26650/ISTJECON2021-1181635123456The Effect of Gift Exchange Theory on Wage DeterminationMuhammed Enes Şaşmazhttps://orcid.org/0000-0001-5097-0329Erdem Cam0https://orcid.org/0000-0003-2097-2491Ankara Üniversitesi, Ankara, TürkiyeThe disciplines of psychology and economics have interacted over time due to their human-oriented approach and have started forming the discipline of behavioral economics since the 1950s. Labor economics examines the decisions of workers and employers regarding repeated human interactions and has also been affected by the development of behavioral economics. This discipline was recently defined as behavioral labor economics and has increased its awareness in recent years as a field where more multidisciplinary, innovative, and experimental methods are preferred, unlike traditional labor economics with its neoclassical and conservative characteristics. Behavioral labor economics discusses labor market aspects such as labor supply, effort, wages, and other behavioral factors in the workplace. Gift exchange theory provides insight into the many variables related to behavioral labor economics. According to the theory, receiving a wage level higher than the equilibrium market wage indicates a gift for employees, with employees being expected to work harder in exchange for this gift. This experimental study has been prepared based on gift exchange practices in which employees receive a wage above the one they accepted in way where it is considered a gift. As a result of the experiment, the gift exchange determined to be effective in the experimental group, and this level of effectiveness continued to increase over time.https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/E5E8382BA2CA47ADB332A0133E9ED638behavioral labor economicsbehavioral economicsgift exchange theory |
| spellingShingle | Muhammed Enes Şaşmaz Erdem Cam The Effect of Gift Exchange Theory on Wage Determination İstanbul İktisat Dergisi behavioral labor economics behavioral economics gift exchange theory |
| title | The Effect of Gift Exchange Theory on Wage Determination |
| title_full | The Effect of Gift Exchange Theory on Wage Determination |
| title_fullStr | The Effect of Gift Exchange Theory on Wage Determination |
| title_full_unstemmed | The Effect of Gift Exchange Theory on Wage Determination |
| title_short | The Effect of Gift Exchange Theory on Wage Determination |
| title_sort | effect of gift exchange theory on wage determination |
| topic | behavioral labor economics behavioral economics gift exchange theory |
| url | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/E5E8382BA2CA47ADB332A0133E9ED638 |
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