SDy from superior-equivalents judgments

Computes SDy from a judged monetary difference between a superior and a typical performer, divided by the standardized distance assumed to separate them.

Usage

sdy_superior_equivalents(superior_value, typical_value, z_difference = 1)

Arguments

superior_value

Monetary value of the superior performer.

typical_value

Monetary value of the typical performer.

z_difference

Standardized distance between the two performers. Defaults to 1, but can be set to another value if the judgment anchors imply it.

Value

Estimated SDy.

References

Eaton, N. K., Wing, H., & Mitchell, K. J. (1985). Alternate methods of estimating the dollar value of performance. Personnel Psychology, 38, 27-40.

Burke, M. J., & Frederick, J. T. (1984). Two modified procedures for estimating standard deviations in utility analyses. Journal of Applied Psychology, 69, 482-489.

Burke, M. J., & Frederick, J. T. (1986). A comparison of economic utility estimates for alternative SDy estimation procedures. Journal of Applied Psychology, 71, 334-339.

Examples

# Literature: Eaton, Wing, and Mitchell (1985); Burke and Frederick (1984, 1986).
sdy_superior_equivalents(superior_value = 140000, typical_value = 100000)
#> [1] 40000