Academics Appreciate Awards. A New Aspect of Incentives in Research
AbstractThis paper analyzes awards as a means of motivation prevalent in the scientific community, but so far neglected in the economic literature on incentives, and discusses their relationship to monetary compensation. Awards are better suited than performance pay to reward scientific tasks, which are typically of a vague nature. They derive their value, for instance, from signaling research talent to outsiders. Awards should therefore be taken seriously as a means of motivating research that may complement, or even substitute for, monetary incentives. While we discuss awards in the context of academia, our conclusions apply to other principal-agent settings as well.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Center for Research in Economics, Management and the Arts (CREMA) in its series CREMA Working Paper Series with number 2008-32.
Date of creation: Nov 2008
Date of revision:
Awards; Money; Incentives; Academia; Research;
Other versions of this item:
- Bruno S. Frey & Susanne Neckermann, 2009. "Academics Appreciate Awards - A New Aspect of Incentives in Research," CESifo Working Paper Series 2531, CESifo Group Munich.
- Bruno S. Frey & Susanne Neckermann, 2008. "Academics Appreciate Awards. A New Aspect of Incentives in Research," IEW - Working Papers 400, Institute for Empirical Research in Economics - University of Zurich.
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
- J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
- M52 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-03 (All new papers)
- NEP-EDU-2009-01-03 (Education)
- NEP-HPE-2009-01-03 (History & Philosophy of Economics)
- NEP-SOG-2009-01-03 (Sociology of Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roland BÃ©nabou & Jean Tirole, 2003.
"Intrinsic and Extrinsic Motivation,"
Review of Economic Studies,
Oxford University Press, vol. 70(3), pages 489-520.
- Timothy Besley & Maitreesh Ghatak, 2008.
LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library
5913, London School of Economics and Political Science, LSE Library.
- Bruno S. Frey, .
"Knight Fever towards an Economics of Awards,"
IEW - Working Papers
239, Institute for Empirical Research in Economics - University of Zurich.
- Renault, RÃ©gis & Auriol, Emmanuelle, 2008.
"Status and incentives,"
Economics Papers from University Paris Dauphine
123456789/12479, Paris Dauphine University.
- Auriol, Emmanuelle & Renault, Régis, 2007. "Status and Incentives," IDEI Working Papers 451, Institut d'Économie Industrielle (IDEI), Toulouse.
- Emmanuelle Auriol & Régis Renault, 2007. "Status and Incentives," THEMA Working Papers 2007-01, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- Robert Dur, 2008. "Gift Exchange in the Workplace," Tinbergen Institute Discussion Papers 08-082/1, Tinbergen Institute.
- C. Gavrila & J.P. Caulkins & G. Feichtinger & G. Tragler & R.F. Hartl, 2005. "Managing the reputation of an award to motivate performance," Computational Statistics, Springer, Springer, vol. 61(1), pages 1-22, 03.
- Bruno S. Frey & Reto Jegen, 2000. "Motivation Crowding Theory: A Survey of Empirical Evidence," CESifo Working Paper Series 245, CESifo Group Munich.
- Uri Gneezy & Aldo Rustichini, 2000.
"A fine is a price,"
Natural Field Experiments
00258, The Field Experiments Website.
- Gneezy, Uri & Rustichini, Aldo, 2000. "A Fine is a Price," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 29(1), pages 1-17, January.
- Susanne Neckermann & Bruno S. Frey, 2008.
"Awards as Incentives,"
IEW - Working Papers
334, Institute for Empirical Research in Economics - University of Zurich.
- Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
- Bruno S. Frey & Alois Stutzer, .
"What can Economists Learn from Happiness Research?,"
IEW - Working Papers
080, Institute for Empirical Research in Economics - University of Zurich.
- Bruno S. Frey & Alois Stutzer, 2002. "What Can Economists Learn from Happiness Research?," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 402-435, June.
- Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo Group Munich.
- repec:nbr:nberwo:13317 is not listed on IDEAS
- Waldfogel, Joel, 1993. "The Deadweight Loss of Christmas," American Economic Review, American Economic Association, vol. 83(5), pages 1328-36, December.
- Stutzer, Alois & Frey, Bruno S., 2006.
"What Happiness Research Can Tell Us About Self-Control Problems and Utility Misprediction,"
IZA Discussion Papers
1952, Institute for the Study of Labor (IZA).
- Alois Stutzer & Bruno S. Frey, 2006. "What Happiness Research Can Tell Us About Self-Control Problems And Utility Misprediction," IEW - Working Papers 267, Institute for Empirical Research in Economics - University of Zurich.
- 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.
- Feld, Lars P. & Necker, Sarah & Frey, Bruno S., 2013. "Happiness of economists," Freiburg Discussion Papers on Constitutional Economics 13/7, Walter Eucken Institut e.V..
- Hasan, Syed Akif & Subhani, Muhammad Imtiaz, 2011. "Relationship between Various Employee Performance Recognition Techniques and Customer Satisfaction: Evidence from the Restaurant Industry of Pakistan," MPRA Paper 34759, University Library of Munich, Germany.
- Ho Fai Chan & Benno Torgler, 2012.
"Econometric Fellows and Nobel Laureates in Economics,"
CREMA Working Paper Series
2012-13, Center for Research in Economics, Management and the Arts (CREMA).
- Ho Fai Chan & Benno Torgler, 2012. "Econometric Fellows and Nobel Laureates in Economics," Economics Bulletin, AccessEcon, vol. 32(4), pages 3365-3377.
- Ho Fai Chan & Benno Torgler, 2012. "Econometric Fellows and Nobel Laureates in Economics," School of Economics and Finance Discussion Papers and Working Papers Series, School of Economics and Finance, Queensland University of Technology 291, School of Economics and Finance, Queensland University of Technology.
- Singh, Prakarsh, 2011. "Performance Pay and Information: Reducing Child Malnutrition in Urban Slums," MPRA Paper 29403, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna-Lea Werlen).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.