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Awards: Tangibility, Self-Signaling and Signaling to Others

Author

Listed:
  • Jana Gallus
  • Sandy Campbell
  • Uri Gneezy

Abstract

Awards are widely used as incentives. This paper situates awards in the broader incentives landscape and shows how the motivational value of awards can be understood through a framework that considers three sources of value: the tangible component of an award, the social signals it emits, and its self-signaling function. We identify and discuss several major characteristics of awards through the lenses of these three dimensions: the audience, scarcity, the giver’s status, and the selection process. Based on our framework, we integrate the awards literature published across economics, psychology, management, and sociology journals to elucidate what has been learned and offer a roadmap for future experimental research on awards and incentives.

Suggested Citation

  • Jana Gallus & Sandy Campbell & Uri Gneezy, 2026. "Awards: Tangibility, Self-Signaling and Signaling to Others," CESifo Working Paper Series 12393, CESifo.
    • Handle: RePEc:ces:ceswps:_12393
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    References listed on IDEAS

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    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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