Concept information
social science subjects
health and social care
health care management
accounting and activity-based costing
...
health and social care
health care quality, access, and evaluation
health services research
cost of care, economics, finance, and payment mechanisms
Preferred term
compensating differentials
Definition
- Compensation differentials play an important role in understanding labor economics and trends in employee benefits. In equilibrium labor markets, where the supply and demand of labor intersect, people are paid what they are worth; more technically, individuals are compensated the value of their marginal product. [Source: Encyclopedia of Health Services Research; Compensation Differentials]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/compensating_differentials
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