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Awards as Incentives

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  • Susanne Neckermann
  • Bruno S. Frey

Abstract

Non-monetary incentives in the form of awards have so far escaped the attention of economists despite their widespread use. This paper presents an experiment conducted online at IBM to assess the impact of these kinds of extrinsic incentives. Introducing a hypothetical award has statistically significant effects on stated contributions to a public good. Our design allows the estimation of the impact of different award characteristics related to, for example, how public or how valuable the award is. We illustrate these findings by providing predictions about the behavior induced by a new award at IBM.

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Bibliographic Info

Paper provided by Center for Research in Economics, Management and the Arts (CREMA) in its series CREMA Working Paper Series with number 2008-31.

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Date of creation: Nov 2008
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Handle: RePEc:cra:wpaper:2008-31

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Keywords: incentives; non-monetary compensation; awards; motivation; experiment;

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Cited by:
  1. Bruno S. Frey & Susanne Neckermann, 2009. "Academics Appreciate Awards - A New Aspect of Incentives in Research," CESifo Working Paper Series 2531, CESifo Group Munich.
  2. Bruno S. Frey, 2009. "Punishment - and beyond," CESifo Working Paper Series 2706, CESifo Group Munich.
  3. Lacetera, Nicola & Macis, Mario, 2009. "Do All Material Incentives for Prosocial Activities Backfire? The Response to Cash and Non-Cash Incentives for Blood Donations," IZA Discussion Papers 4458, Institute for the Study of Labor (IZA).
  4. Bruno S. Frey & Susanne Neckermann, 2008. "Awards in economics. Towards a new field of inquiry," IEW - Working Papers 401, Institute for Empirical Research in Economics - University of Zurich.
  5. Susanne Neckermann & Reto Cueni & Bruno S. Frey, 2010. "Awards at work," IEW - Working Papers 411, Institute for Empirical Research in Economics - University of Zurich.
  6. Lacetera, Nicola & Macis, Mario, 2008. "Social Image Concerns and Pro-Social Behavior," IZA Discussion Papers 3771, Institute for the Study of Labor (IZA).
  7. Bruno S. Frey, 2010. "Geld oder Anerkennung? Zur Ökonomik der Auszeichnungen," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 11(1), pages 1-15, 02.
  8. Susanne Neckermann & Reto Cueni & Bruno S. Frey, 2009. "What is an Award Worth? An Econometric Assessment of the Impact of Awards on Employee Performance," CESifo Working Paper Series 2657, CESifo Group Munich.
  9. Singh, Prakarsh, 2011. "Performance Pay and Information: Reducing Child Malnutrition in Urban Slums," MPRA Paper 29403, University Library of Munich, Germany.

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