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Large Stakes and Big Mistakes

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Author Info
DAN ARIELY
URI GNEEZY
GEORGE LOEWENSTEIN
NINA MAZAR
Abstract

Workers in a wide variety of jobs are paid based on performance, which is commonly seen as enhancing effort and productivity relative to non-contingent pay schemes. However, psychological research suggests that excessive rewards can, in some cases, result in a decline in performance. To test whether very high monetary rewards can decrease performance, we conducted a set of experiments in the U.S. and in India in which subjects worked on different tasks and received performance-contingent payments that varied in amount from small to very large relative to their typical levels of pay. With some important exceptions, very high reward levels had a detrimental effect on performance. Copyright © 2009 The Review of Economic Studies Limited.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-937X.2009.00534.x
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Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 76 (2009)
Issue (Month): 2 (04)
Pages: 451-469
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Handle: RePEc:bla:restud:v:76:y:2009:i:2:p:451-469

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  1. Edi Karni, 2009. "On the Conjunction Fallacy in Probability Judgment: New Experimental Evidence Regarding Linda," Economics Working Paper Archive 552, The Johns Hopkins University,Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-22.

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