The Law of Escalating Marginal Sacrifice Explaining a Plethora a Heretofore Unresolved Motivation Phenomena |
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| Author:
| Grant, Phil |
| ISBN: | 978-0-7618-2781-8 |
| Publication Date: | Jan 2004 |
| Publisher: | University Press of America, Incorporated
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| Book Format: | Paperback |
| List Price: | AUD $84.95 |
Book Description:
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This book presents a new law of human behavior founded by the author some twenty-five years ago, but not proclaimed as a law until now. The Law of Escalating Marginal Sacrifice (LEMS) states that when a person exerts more effort pursuing a job, task, or goal, the negative outcomes, or costs experienced by the person as a result of the higher effort exerted, rise at an increasing rate--the rate of increase accelerating rapidly as one's effort capacity is approached. Such a relationship,...
More DescriptionThis book presents a new law of human behavior founded by the author some twenty-five years ago, but not proclaimed as a law until now. The Law of Escalating Marginal Sacrifice (LEMS) states that when a person exerts more effort pursuing a job, task, or goal, the negative outcomes, or costs experienced by the person as a result of the higher effort exerted, rise at an increasing rate--the rate of increase accelerating rapidly as one's effort capacity is approached. Such a relationship, between effort exerted and perceived costs associated with that effort, has profound implications for managing people in the workforce. This relationship provides a vital framework for integrating the theory of the firm with the theory of individual behavior--a synthesis too long neglected.