Do Higher Wages Pay for Themselves? An Intra-firm Test of the Effect of Wages on Employee Performance

Conference: AAA 2015 Management Accounting Section (MAS) Meeting, AAA 2015 Annual meeting, Volume: http://ssrn.com/abstract=2482829This study uses field data from 490 hotels in a single lodging chain to investigate three questions related to the efficiency-wage hypothesis. (1) Does paying workers higher relative wages ex ante result in better ex post actual performance, either by motivating workers to exert greater effort or by attracting higher quality workers? (2) Is the magnitude of the relation between performance and wages the same when workers are overpaid versus underpaid? (3) Do the overall benefits of paying higher wages outweigh the costs? The data enable us to perform powerful tests of wageperformance relations because exogenous factors that likely affect employee behavior are standardized across hotels. Our results suggest that actual performance (measured by customer satisfaction, revenues, and profit) is increasing in the relative wage, and that higher performance is the result, and not the cause, of higher wages. We find that the magnitude of the wageperformance relation is at least as large for workers who are overpaid compared to those who are underpaid. This result, which differs from the results of experimental studies, suggests that overpaid workers do not rationalize away wage premiums. Finally, our results indicate that increases in wages do, in fact, pay for themselves. A $1,000 increase in the general manager’s relative wage results in a$1,080 increase in profit for the mean hotel. This research contributes to a series of studies that investigates the extent to which wages influence performance (e.g., Levine, 1992; Fehr and Falk, 1999; Hannan, Kagal, and Moser, 2002; Hannan, 2005), and whether the marginal benefit of wage increases justifies their costs (Levin, 1993)

Two-fermion relativistic bound states in Light-Front Dynamics

In the Light-Front Dynamics, the wave function equations and their numerical solutions, for two fermion bound systems, are presented. Analytical expressions for the ladder one-boson exchange interaction kernels corresponding to scalar, pseudoscalar, pseudovector and vector exchanges are given. Different couplings are analyzed separately and each of them is found to exhibit special features. The results are compared with the non relativistic solutions.Comment: 40 pages, to be published in Phys. Rev. C, .tar.gz fil

Ferromagnetic resonance study of sputtered Co|Ni multilayers

We report on room temperature ferromagnetic resonance (FMR) studies of [$t$ Co$|2t$ Ni]$\times$N sputtered films, where $0.1 \leq t \leq 0.6$ nm. Two series of films were investigated: films with same number of Co$|$Ni bilayer repeats (N=12), and samples in which the overall magnetic layer thickness is kept constant at 3.6 nm (N=1.2/$t$). The FMR measurements were conducted with a high frequency broadband coplanar waveguide up to 50 GHz using a flip-chip method. The resonance field and the full width at half maximum were measured as a function of frequency for the field in-plane and field normal to the plane, and as a function of angle to the plane for several frequencies. For both sets of films, we find evidence for the presence of first and second order anisotropy constants, $K_1$ and $K_2$. The anisotropy constants are strongly dependent on the thickness $t$, and to a lesser extent on the total thickness of the magnetic multilayer. The Land\'e g-factor increases with decreasing $t$ and is practically independent of the multilayer thickness. The magnetic damping parameter $\alpha$, estimated from the linear dependence of the linewidth, $\triangle H$, on frequency, in the field in-plane geometry, increases with decreasing $t$. This behaviour is attributed to an enhancement of spin-orbit interactions with $t$ decreasing and in thinner films, to a spin-pumping contribution to the damping.Comment: 18 pages, 13 figure

To dd, or not to dd: Recent developments and comparisons of regularization schemes

We give an introduction to several regularization schemes that deal with ultraviolet and infrared singularities appearing in higher-order computations in quantum field theories. Comparing the computation of simple quantities in the various schemes, we point out similarities and differences between them.Comment: 61 pages, 12 figures; version sent to EPJC, references update

Ultrafast single-pulse all-optical switching in synthetic ferrimagnetic Tb/Co/Gd multilayers

In this work, we investigate single-shot all-optical switching (AOS) in Tb/Co/Gd/Co/Tb multilayers in an attempt to establish AOS in synthetic ferrimagnets with high magnetic anisotropy. In particular, we study the effect of varying Tb thicknesses to disentangle the role of the two rare earth elements. Even though the role of magnetic compensation has been considered to be crucial, we find that the threshold fluence for switching is largely independent of the Tb content. Moreover, we identify the timescale for the magnetization to cross zero to be within the first ps after laser excitation using time-resolved MOKE. We conclude that the switching is governed mostly by interactions between Co and Gd

The Drug Burden Index and Level of Frailty as Determinants of Healthcare Costs in a Cohort of Older Frail Adults in New Zealand

OBJECTIVES: Frailty is common in older people and is associated with increased use of healthcare services and ongoing use of multiple medications. This study provides insights into the healthcare cost structure of a frail group of older adults in Aotearoa, New Zealand. Furthermore, we investigated the relationship between participants' anticholinergic and sedative medication burden and their total healthcare costs to explore the viability of deprescribing interventions within this cohort.METHODS: Healthcare cost analysis was conducted using data collected during a randomized controlled trial within a frail, older cohort. The collected information included participant demographics, medications used, frailty, cost of service use of aged residential care and outpatient hospital services, hospital admissions, and dispensed medications.RESULTS: Data from 338 study participants recruited between 25 September 2018 and 30 October 2020 with a mean age of 80 years were analyzed. The total cost of healthcare per participant ranged from New Zealand $15 (US dollar$10) to New Zealand $270 681 (US dollar$175 943) over 6 months postrecruitment into the study. Four individuals accounted for 26% of this cohort's total healthcare cost. We found frailty to be associated with increased healthcare costs, whereas the drug burden was only associated with increased pharmaceutical costs, not overall healthcare costs.CONCLUSIONS: With no relationship found between a patient's anticholinergic and sedative medication burden and their total healthcare costs, more research is required to understand how and where to unlock healthcare cost savings within frail, older populations.</p

Fundamental Physics with the Laser Astrometric Test Of Relativity

The Laser Astrometric Test Of Relativity (LATOR) is a joint European-U.S. Michelson-Morley-type experiment designed to test the pure tensor metric nature of gravitation - a fundamental postulate of Einstein's theory of general relativity. By using a combination of independent time-series of highly accurate gravitational deflection of light in the immediate proximity to the Sun, along with measurements of the Shapiro time delay on interplanetary scales (to a precision respectively better than 0.1 picoradians and 1 cm), LATOR will significantly improve our knowledge of relativistic gravity. The primary mission objective is to i) measure the key post-Newtonian Eddington parameter \gamma with accuracy of a part in 10^9. (1-\gamma) is a direct measure for presence of a new interaction in gravitational theory, and, in its search, LATOR goes a factor 30,000 beyond the present best result, Cassini's 2003 test. The mission will also provide: ii) first measurement of gravity's non-linear effects on light to ~0.01% accuracy; including both the Eddington \beta parameter and also the spatial metric's 2nd order potential contribution (never measured before); iii) direct measurement of the solar quadrupole moment J2 (currently unavailable) to accuracy of a part in 200 of its expected size; iv) direct measurement of the "frame-dragging" effect on light by the Sun's gravitomagnetic field, to 1% accuracy. LATOR's primary measurement pushes to unprecedented accuracy the search for cosmologically relevant scalar-tensor theories of gravity by looking for a remnant scalar field in today's solar system. We discuss the mission design of this proposed experiment.Comment: 8 pages, 9 figures; invited talk given at the 2005 ESLAB Symposium "Trends in Space Science and Cosmic Vision 2020," 19-21 April 2005, ESTEC, Noodrwijk, The Netherland