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Estimating the Dollar Value Contribution of Human Resource Intervention Programs: Some Comments on the Brogden Utility Equation
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Kenneth S. Law
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Abstract
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This paper addresses the issue of interpreting dollar value utility estimates using the Brogden utility equation. It shows that estimates of the standard deviation of job performance in dollars (SDy) must be compatible with the effect size measure in order to produce meaningful final utility estimates. With this interpretation of the utility estimates, it is argued that most existing SDy estimation methods would not produce accurate utility estimates of future cash flow.
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Keywords
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UTILITY ANALYSIS; HUMAN RESOURCE PLANNING; DOLLAR VALUE; UTILITY; SDY; MATHEMATICAL MODELS; STANDARD DEVIATION.
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Contact Details
Kenneth S. Law
Department of Management
Hong Kong University of Science and Technology
Clear Water Bay
Hong Kong
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