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Self-rewards and personal motivation

Author

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  • Koch, Alexander K.
  • Nafziger, Julia
  • Suvorov, Anton
  • van de Ven, Jeroen

Abstract

Self-administered rewards are ubiquitous. They serve as incentives for personal accomplishments and are widely recommended to increase personal motivation. We show that in a model with time-inconsistent and reference-dependent preferences, self-rewards can be a credible and effective tool to overcome self-control problems. We also discuss the different types of self-rewards the individual can use, such as vice goods and virtue goods, and analyze which types of goods the individual prefers.

Suggested Citation

  • Koch, Alexander K. & Nafziger, Julia & Suvorov, Anton & van de Ven, Jeroen, 2014. "Self-rewards and personal motivation," European Economic Review, Elsevier, vol. 68(C), pages 151-167.
    • Handle: RePEc:eee:eecrev:v:68:y:2014:i:c:p:151-167
    DOI: 10.1016/j.euroecorev.2014.03.002
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    Cited by:

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    2. Jonathan de Quidt, 2018. "Your Loss Is My Gain: A Recruitment Experiment with Framed Incentives," Journal of the European Economic Association, European Economic Association, vol. 16(2), pages 522-559.
    3. Berger, Eva M. & Hermes, Henning & Koenig, Guenther & Schmidt, Felix & Schunk, Daniel, 2022. "Self-regulation training and job search input: A natural field experiment within an active labor market program," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 98(C).
    4. Max van Lent & Michiel Souverijn, 2017. "Goal Setting and Raising the Bar: A Field Experiment," Tinbergen Institute Discussion Papers 17-001/VII, Tinbergen Institute.
    5. de Quidt, Jonathan, 2014. "Your loss is my gain: a recruitment experiment with framed incentives," LSE Research Online Documents on Economics 58208, London School of Economics and Political Science, LSE Library.
    6. Eva M. Berger & Guenther Koenig & Henning Mueller & Felix Schmidt & Daniel Schunk, 2016. "Self-Regulation Training, Labor Market Reintegration of Unemployed Individuals, and Locus of Control Evidence from a Natural Field Experiment," Working Papers 1622, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 2016.
    7. Eva m. Berger & Guenther Koenig & Henning Müller & Felix Schmidt & Daniel Schunk, 2017. "Self-Regulation Training and Job Search Effort: A Natural Field Experiment within an Active Labor Market Program," Working Papers 1712, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz.
    8. Hanna Fromell & Daniele Nosenzo & Trudy Owens, 2014. "Tradeoffs between Self-interest and Other-Regarding Preferences Cause Willpower Depletion," Discussion Papers 2014-14, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    9. Jonathan de Quidt, 2017. "Your Loss is my Gain: A Recruitment Experiment with Framed Incentives," CESifo Working Paper Series 6326, CESifo Group Munich.
    10. Koch, Alexander & Nafziger, Julia & Nielsen, Helena Skyt, 2015. "Behavioral economics of education," Journal of Economic Behavior & Organization, Elsevier, vol. 115(C), pages 3-17.

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    More about this item

    Keywords

    Quasi-hyperbolic discounting; Reference-dependent preferences; Self-control; Self-rewards; Goals;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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