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Not Just for the Money

Author

Listed:
  • Bruno S. Frey

Abstract

In Not Just for the Money Professor Frey challenges traditional economic theory and argues that people do not act in expectation of monetary gain alone, nor do they work solely because they are paid. Furthermore, the author claims that higher monetary compensation as well as regulations crowd-out motivation in important circumstances. Offering higher pay may make people less committed to their work and may reduce their performance. They thus behave in exactly the opposite way the fundamental price-effect of economics predicts.

Suggested Citation

  • Bruno S. Frey, 1997. "Not Just for the Money," Books, Edward Elgar Publishing, number 1183, December.
  • Handle: RePEc:elg:eebook:1183
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    File URL: http://www.e-elgar.com/shop/isbn/9781858985091
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    More about this item

    Keywords

    Economics and Finance; Politics and Public Policy;

    JEL classification:

    • H0 - Public Economics - - General

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